Corporate foreign exchange news

"Think carefully" before taking foreign mortgages

Friday, 11 March 2011 09:02:08 GMT

Published by Zeb Bham
Individuals considering a move abroad should think carefully about all aspects associated with relocation before taking out foreign mortgages for a new home, an expert has advised.
Director of Shelter Offshore Rhiannon Davies said that a number of aspects need to be considered before people make a move overseas.
She said that it is important for people to "think carefully about the legitimacy of their dreams of their new life".
Opting to take out a foreign mortgage and move overseas will not remove all of life's daily pressures and Ms Davies pointed out that people must not forget that aspects such as the ability to find work and pay the bills will still be present.
Despite a change in location, the everyday pressures of life will remain, she said.
Her comments follow research from the Post Office, which found that some two-thirds of expats admit to feeling pressure on the personal finances. However, 70 per cent said they were "very happy" with life in a new location.
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