Mortgage help/advice required

cat1972

We have a house in the UK and a UK based mortgage. If we wanted to could we ask a foreign bank i.e. Spain or anywhere to do a mortgage for us on a UK based property to avoid paying the high interest rates in the UK?

homer_j_3

You cannot get foreign banks to do this but some UK banks offer foreign currency options, however, they are high risk and you need to know what you are doing for this.

Interest rates in the UK are low and whilst they may seem high compared to some of our european neighbours, the risks that are associated with them are not worth the money you would potentially save.

minimike2

There seems to be more and more enquiries about this cropping up - makes me wonder why people are all of a sudden looking at this - has there been a press article or something? Its not really the kind of thing consumers just wake up and think "oh I will get a foriegn currency mortgage" is it!

They are just not worth the risk. Stay clear!