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Mortgage in Euros

akermandavid
akermandavid Posts: 1 Newbie
in Mortgages & endowments
I have heard that it is significantly cheaper to get a mortgage in Euros becasue the European interest rate is lower. How do I go about getting a mortgage in Euros and what do I need to be aware of in this scenario?

Please help.

Dave A.

Comments

  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You have to be aware that currencies can change against each other quite quickly.

    In addition their interest rates go up (which they are also doing)
  • Griptool
    Griptool Posts: 78 Forumite
    akermandavid wrote: »
    I have heard that it is significantly cheaper to get a mortgage in Euros becasue the European interest rate is lower. How do I go about getting a mortgage in Euros and what do I need to be aware of in this scenario?

    Please help.

    Dave A.
    If you get paid in Euros its a great plan otherwise forget it - better idea would be to ask your boss to pay you in Yen 1% .... sweet:rotfl:
  • dwsjarcmcd
    dwsjarcmcd Posts: 1,857 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    A few years ago, many people got into dollar mortgages for the reasons you cite. Currency movements and interest rates both went against them and they have been well and trully stuffed.

    Bad idea (IMHO of course)
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