A friend of mine is buying a property in Spain with a Spanish mortgage. At first they were going to use a UK lender, but the interest rate is a lot lower in Spain. Then I thought is it possible for a UK resident to get a Spanish mortgage for a UK property? Anybody know, or even better, done the same?
Daz
I understand there are many Euro countries from which one can obtain a mortgage for a UK property. Interest rates are lower than here. On the other hand, one would be at the mercy of changes in the exchange rate.
And for some countries, early redemption penalties are extortionate. As moving house counts as a redemption, unless you expect to be in the same house for the life of the mortgage, what you win on the roundabouts you lose on the swings, in the swimming pool, on the park bench.....
tim
I am a greek resident and I want to buy in Germany, Italy or in the Eastern countries like Bulgaria....
My question is can I take a loan from those countries depending my choice?
Germany-Italy are in EU, we have the same currency, can I borrow from their own banks with what interest???
And in the case of Bulgaria, which is outside of EU?
Probably but financial services do not seem to travel well in Europe. There are still a lot of restrictions in place. I'm sure you can find a lender but you will pay a premium on interest rates as they will think they are taking more risk.
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