hi all,
Has anyone ever had a mortgage from overseas for an Australian property - that is, get a mortgage from an English bank (at cheaper rates compared to here) for an investment property here?
I realise that currency flunctuations may be an issue though and i recall many people got stuck with this in the 80s and this is a concern.
The reason i ask, is that while our interest rates may be going up in the next few years, many banks, particularly in Asia will be keeping their rates lower. Taking this one step further, a few years back (when our rates were around 8%), I approached some banks in Taiwan asking about mortgages as their rates were around 2% at the time. however they told me that they were not allowed to offer international mortgages and this was a Taiwan government law - not a bank restriction. (I was living in Taiwan at the time though and was looking at buying here).
So does anyone have any international mortgages for properties in Australia? Is it something to consider?
Thanks
g
Has anyone ever had a mortgage from overseas for an Australian property - that is, get a mortgage from an English bank (at cheaper rates compared to here) for an investment property here?
I realise that currency flunctuations may be an issue though and i recall many people got stuck with this in the 80s and this is a concern.
The reason i ask, is that while our interest rates may be going up in the next few years, many banks, particularly in Asia will be keeping their rates lower. Taking this one step further, a few years back (when our rates were around 8%), I approached some banks in Taiwan asking about mortgages as their rates were around 2% at the time. however they told me that they were not allowed to offer international mortgages and this was a Taiwan government law - not a bank restriction. (I was living in Taiwan at the time though and was looking at buying here).
So does anyone have any international mortgages for properties in Australia? Is it something to consider?
Thanks
g