Why You Should Not Have The Mortgage In A Different Currency To Your Earnings

[ToraToraTora]

http://www.bbc.com/news/blogs-eu-30896485

[youngmafbog]

No reason why you should be forced into anything, we are a free country.

The problem is you have to take the rough with the smooth and people dont like doing that. All smiles when it is going their way not so when it is not.

The other problem is: How do you protect the thick?

[Gromit]

Or, do not try to have your cake and eat it too.

Poland did not want to join the €uro, and wanted to keep the Zloty. Fine.
But they didn't want to buy a margage in Zlotys, the bought in Swiss Francs which was fixed on parity with the €uro. Best of both worlds, until Switzland broke the SF from parity. And left these Poles exposed.

[Old_Geezer]

It's not really a clear reason never to do it, but one needs to be aware it is an additional risk factor. One might "win" if the mortgage currency becomes less valued compared to your earning currency, or "lose" if the reverse occurs. It's all a gamble.

[ToraToraTora]

where can I get a margage, is that a posh mortgage? Yes quite right gromit, presumably zloty mortgages were higher interest rates. Interesting though that when they break free from the Euro they shoot right up.....mmm.