Thursday 09 February 2012 | RSS Feed

Why foreign currency loans should carry a wealth warning

One has to feel slightly sorry for some people in Iceland who have taken out foreign currency loans to finance the purchase of houses and cars, as in the space of a few days the pound has gone from buying 155 Krona to 340.


10 October, 2008

So while taking out loans in a foreign currency may seem attractive from an interest rate perspective, this should serve as a reminder that there are variables that can make it go horribly wrong.




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