Overseas property mortgage

B

Brenbo

Registered User
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Just wondering where are most people sourcing their mortgages (besides equity release on Irish\UK property) for oversea’s property
and what rates are you paying. Area of especial interest to me is Bulgaria.
 
Bulgaria you can expect to get around 70% ltv with a 7% interest rate. Expect to pay a 2% bank fee also.
 
LIBOR - London Inter-Bank Offer Rate
EURIBOR - ECB Inter Bank Offer Rate

As a rough translation it's the rate at which banks lend money to each other on a 'overnight' rate. You also see one week, one month, etc IBORs.

Sarah

www.rea.ie
 
Sarah W said:
LIBOR - London Inter-Bank Offer Rate
EURIBOR - ECB Inter Bank Offer Rate

As a rough translation it's the rate at which banks lend money to each other on a 'overnight' rate. You also see one week, one month, etc IBORs.

Sarah

www.rea.ie
Click to expand...

Forgive my ignorance...does they bear much relation to the ECB rate our own domestic mortgages are tied to? If they're "overnight" rates presumably they fluctuate heavily?
Thanks
 
Sarah W said:
No, I don't think they do ....
Click to expand...

I'm sure some "boring bankers" would disagree with you, making the point that the Interbank market (the market in which banks's lend to each other) is basically guided by the current ECB / UK Rate, coupled with future anticipated increases / decreases ;) :D

Cheers

G>
ps - for the record, I'm not saying all bankers are boring btw ;) :) ;) :)
 
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