There are a lot of reasons as to why mortgages are so expensive in certain areas of the world. For some, banks want to limit the amount of risk that they have when they give out money. For them, they know that there are not as many lenders out there who will give out the rates that they give. Therefore, their rates are a little bit above the average but still lower than a hard lender.
Key Takeaways:
- The bottom line is that properties are becoming more and more expensive as time goes on.
- No matter where you are in the world, buying a house seems to be really expensive.
- The lenders that are giving out loans to people are trying to make as much money as possible.
“We have the most expensive variable rate mortgages in the eurozone in this country. The cost of a new mortgage here is almost twice what borrowers pay elsewhere in the currency zone.”