I have purchased a property off plan in Hacienda, Taray, Spain.

I purchased the property off plan for 137k euro when the exchange rate was 1.47/1 now the rate is currently 1.24/1 so the cost of the property has now risen approx 17k GBP.

I have to pay 20% of the property early in 2009 at possibly a poor exchange rate.

Can anyone offer any advice here. Maybe I would be better to try and take a mortgage in euro's for the full amount and start paying for the property now?

Thanks

Mark

Hi Mark,

Maybe you´d be better off taking out the mortgage in euros because if u sell it later it will also be in euros but only an opinion.

I read a good article from PS a while back about currency risk. See below.

http: / /www .propertysecrets .net /article /currency _conundrums _or _how _to _forget _about _exchange _rates _and _sleep _soundly _at _night _by _neil _lewis _ceo _and _founder /1280 .html

Cheers,

Liam