timebinder Posted January 19, 2015 Share Posted January 19, 2015 Wouldn't it feel incredible to reduce a mortgage by 50%...? It certainly would for me -- 'specially since I've had negative equity hanging over my head since 2007... And with the Euro looking like it will continue to devalue against GBP, USD and any other currency well into 2016, perhaps the following opportunity applies: Today, Martin Armstrong wrote... "If you have loans, convert to Euros. You may see them almost halved in the future" Now, being the naive property investor that I am, I have no idea how well that translates to mortgages. Especially for me with negative equity... which means something like a 120% loan-to-value remortgage. Very keen to hear your view! TB Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 19, 2015 Share Posted January 19, 2015 Get rich quick. Send me ten pounds by wire transfer and I'll tell you how. Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted January 19, 2015 Share Posted January 19, 2015 If I were you 2 questions I'd ask is: 1) What would upset me more, switching and being wrong or not switching and being wrong. 2) Can I actually afford to be wrong in both scenarios. If the answer to 2 is no, then let it go. Quote Link to comment Share on other sites More sharing options...
thejaksie Posted January 19, 2015 Share Posted January 19, 2015 You should ask the 300,000 polish or 100,000 croatians how they feel about their swiss franc mortgages they took out 5 years ago. Or the Russians about their USD loans. The EUR is currently weak but as 2007-2009 showed when the pound dropped from EUR 1.49 to parity these things can change rapidly. Then your loans would suddenly increase by 50%... You would take onboard a significant FX risk that you cannot hedge out; this is a risky idea especially on a mortgage which long term and has full recourse to you as a person. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 19, 2015 Share Posted January 19, 2015 You should try this website, http://www.williamhill.com/ or even: http://www.galabingo.com/ Plenty of opportunity for a savvy "investor" Quote Link to comment Share on other sites More sharing options...
Stateless Posted January 20, 2015 Share Posted January 20, 2015 By the time you get the Mortgage set up, you will be just in time for the rise of the Euro? Quite often I feel we are being misled or set up. This Idea just looks to good to be true. (and this is not normally a good) Crazy but I think fixing it in US$ would be more profitable in the long run. Quote Link to comment Share on other sites More sharing options...
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