yea saw them too, I shudder at the thought of their rates. Thanks QRM.QRM wrote:I have seen in the expats mags some firms offering loans for overseas property purchases. They are not mainstream banks.
Would it not be in my best interest for the euro to "tank" after taking out the mortgage?Strong Eagle wrote:I have a friend who financed Oz property through a Sing bank. He had to put up literally hundreds of thousands because of forex fluctuations.
What with Greece, Ireland, and Spain the Euro could tank, leaving you holding the barrel... your loan equity drops below the minimum when converted to Sing $$.
No. Let's say you buy your property for E100K, S$200K. 20 percent is the down/equity. So, you take an S$ 160K mortgage.gonzales wrote:Would it not be in my best interest for the euro to "tank" after taking out the mortgage?Strong Eagle wrote:I have a friend who financed Oz property through a Sing bank. He had to put up literally hundreds of thousands because of forex fluctuations.
What with Greece, Ireland, and Spain the Euro could tank, leaving you holding the barrel... your loan equity drops below the minimum when converted to Sing $$.
If it "tanked" my Singapore dollars would buy more Euro's, no?
Just a thought.
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