And are UK resisdents able to use Euro or US mortgages for homes in the UK? If so, are they worth considering?
There is no "best" fixed rate mortgage in the UK, as different products cater for different people. The best mortgage for one person may be the worst mortgage for someone else. In terms of fixed rate mortgages, it depends on how long you want the fix to last for – and whether you’re happy to accept a high redemption penalty.
You could take out a mortgage in a different currency, but you would be putting yourself at risk as your mortgage payments will fluctuate in response to the exchange rate. The only time you might consider taking a foreign mortgage is if you have a source of income in that currency which is sufficient to make the repayments.
January 26th, 2010 at 8:36 pm
There is no "best" fixed rate mortgage in the UK, as different products cater for different people. The best mortgage for one person may be the worst mortgage for someone else. In terms of fixed rate mortgages, it depends on how long you want the fix to last for – and whether you’re happy to accept a high redemption penalty.
You could take out a mortgage in a different currency, but you would be putting yourself at risk as your mortgage payments will fluctuate in response to the exchange rate. The only time you might consider taking a foreign mortgage is if you have a source of income in that currency which is sufficient to make the repayments.
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