Euro versus sterling mortgage

Francophile

We have a house here in NI (no mortgage). Have a property in France (small euro mortgage). We are thinking of buying a retirement property in the south of Ireland (euro currency). Would we be best to take out a uk sterling morgage, extend the exisiting French euro mortgage or take out a new euro mortgage.

Any advice appreciated

homer_j_3

depends on your circumstances at the time, the market conditions and interest rates as a whole at the time.

Jonbvn

Due to currency risk, it really depends where the money to service your mortgage comes from. If your income is in Euros, then a Euro mortgage is preferable.

FYI, there are stories in the press, which are indicating that sterling may drop in the short to medium term. If your income was in sterling servicing a Euro mortgage you would see a very large increase in monthly payments. As an indication, currencies can move by up to 20% a year or more.

Of course since you already have mortgages in different currencies, you must be aware of the risks?

juegy

The natwest charged us £140 to put my name on my husbands mortgage which he had just swapped to from being with the alliance and leicester. would it be possble to reclaim this back as it was only putting an extra name on paper?can anybody help?

Jonbvn

juegy wrote: »

The natwest charged us £140 to put my name on my husbands mortgage which he had just swapped to from being with the alliance and leicester. would it be possble to reclaim this back as it was only putting an extra name on paper?can anybody help?

Please start a new thread.