Investors set to benefit from eurozone crisis

High st banks vs currency brokers

If anything positive can come from the eurozone crisis it is that property investors can snap up a bargain when it comes to buying a home in one of the affected countries.

Mortgage experts are encouraging property investors to purchase property in the Eurozone as property prices reach an all time low.

International mortgage specialist, Connect Overseas, have suggested property investments to their clients and brokers.

The company has said now is the right time for an investment to be made with properties in countries such as Greece and Spain.

Geoff Simmonds, Head of Operations at Connect Overseas, said: “Property is at a large discount against its peak back in 2008, particularly in Spain and Greece.

"The possible exit from the Euro by Greece is also creating extra opportunities for buyers looking to take advantage of prices tumbling if a devalued drachma is introduced.”

Despite encouragement by such experts, potential buyers should ensure they have the funding to make their purchase.

Simmonds added: “The only concern is that we are seeing a move to more conservative lending from foreign mortgage providers.”

“Mortgages in France for foreign property buyers are becoming more expensive with variable rates shooting up from 2.09% to 2.79% in the last four weeks.”

Simmonds also stated that investors looking to purchase a home in Spain will now be unable to gain an interest-only option.

Transferring money to Greece

If you are looking to invest in Greece, think carefully about how you will send money overseas to Greece. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Greece– which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Investors set to benefit from eurozone crisis

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