Look abroad for cheaper mortgages

You should only take out a foreign currency mortgage if you are happy with the risk of exposure to foreign-currency fluctuations.

Update: read Should you buy a yen mortgage? for more expert advice on foreign currency mortgages.

Interest rates may seem pretty low at 4%, but this is still more than some canny investors are paying for their mortgage, says David Budworth in The Sunday Times. Take Gervais Williams, a fund manager at Gartmore, who has capitalised on Japan's near-zero interest rates and taken out a mortgage in yen on his London property. Should you do the same? If you are happy with the risk of exposure to foreign-currency fluctuations, yes.

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