Wondering can any of you financial gurus out there help?
We have a property overseas where we currently live. We are paying an outrageous interest rate of 9.5% - which is the cheapest we could possibly get. We are looking to buy a site at home. Do you think it’s possible or even advisable to combine our existing mortgage here, with a new mortgage at home (for a site)? Would the banks go for it – seeing as we are non-resident?
Even with the currency exchange here (US) and the rising interest rates at home there is no way the interest rates could rise by that much? Is there?
Thanks.