What is the best fixed rate mortgage for buying a flat in the UK?
Written By: admin on November 17, 2009
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And are UK resisdents able to use Euro or US mortgages for homes in the UK? If so, are they worth considering?
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Tags: advantages and disadvantages, fixed rates mortgage, huntington, misconceptions, mortgage broker, mortgages, remortgages, salaryTags: advantages and disadvantages, huntington, misconceptions, mortgage broker, mortgages, remortgages, salary
There is no "best" fixed rate mortgage in the UK, as different products cater for different people. The best mortgage for one person may be the worst mortgage for someone else. In terms of fixed rate mortgages, it depends on how long you want the fix to last for – and whether you’re pleased to accept a high redemption penalty.
You could take out a mortgage in a different currency, but you would be putting yourself at risk as your mortgage payments will fluctuate in response to the exchange rate. The only time you might consider taking a foreign mortgage is if you have a source of income in that currency which is sufficient to make the repayments.