Take a look at this month’s essential mortgage tip brought to you by Conti, specialists in overseas mortgages…
Following better than expected UK economic growth in the third quarter and a rise in the value of sterling, economists are predicting that interest rates could rise sooner than expected, especially if inflation is to be curbed.
This is potentially good news if you’ve financed your overseas property purchase with a euromortgage, or if you’re planning to do this in the near future. If, as experts predict, sterling continues to appreciate against the euro, this could reduce the size of your mortgage debt.
Even if you’re lucky enough to be a cash buyer, it may be worth taking out a euro mortgage until the exchange rate gets better, at which point you can pay it back.