September 10, 2008

The problem with Euro mortgages

There was a time when mortgage companies in the UK and in Europe where throwing mortgage offers out to almost anyone who wanted it. But those people who took advantage of the great value of euro to pound exchange rates, could well be feeling the crunch a bit more than everyone else.

This is because of the strength of the euro it is in fact out stripping all currencies and while it is strong, everyone else is going to suffer.

Those people who are feeling this more will be foreign property owners who have bought first or second homes in the sun and those homeowners in the UK who took out a euro mortgage or remortgage which is directly related to the euro, rather than the pound.

Source [Expadloco]