Euro Mortgage

Andrew_Musty

Please can you help?

I am hoping to buy a property in France and would like to get a Euro mortgage.
Does anyone know where I can get the best deal?

Many thanks
Andy

Ian_W

As no-one else has picked it up, Andrew, I'll give it a go.

Why do you want a euro mortgage? Might sound a daft question as you're buying in France but when we bought in Spain a few years ago [so it might have changed] the advice was to have repayments in the currency you earn the money to pay mort in. If you're moving to France I would have thought French Banks are your best bet, if you're still earning in UK then you might be better with a mortgage with sterling repayments. Although €uro interest rates are lower, you incur regular costs for buying €'s to repay and are exposed to rate fluctuations [using currency brokers instead of banks can minimise theses but not eliminate them].

Two other options, remortgage your UK home if you have sufficient equity or look for a UK lender who will mortgage overseas property. Certainly as regards Spain [would assume France as well], LTSB/RBS [Gib]/Abbey [International]/ Barclays are all possibilities, probably more of them do it these days than when we were looking.

Hope that helps. BoL.