Euro Mortgages & Purchasing Property Abroad

LottyB

Just after a bit of advice if possible. My husband and i are looking into buying a property in Italy. Can anyone one suggest what the best way of financing such a purchase would be - release equity from our property, increase our mortgage, take out a euro mortage in the UK, take out a mortgage in Italy???

Any help would be much appreciated.

With Thanks
Lotty

Mortgageman

There are, fundementally two questions that you need to ask yourselve

1) Where will the equity come from - if it is the house in the UK then you will probably need to use a UK lender, if it is the property in Italy then it will need to be a European lender.

the answer to this question could be answered by either the amount of equity in your property in the UK, or the answer to this next question

2) Which currency will your earnings be in - you should really try and keep your debts in the same currency as your earnings, as this will lessen currency risk

HTH,

MM

LottyB

Thats great - many thanks for your help.

LottyB