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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Always fun to see the fkery that is Brexit play out in real time.[/quote]
DH is a Brit, and he's been keeping close tabs on this and discussing it with a friend in the UK, who is a smart guy.

They said it's a combination of  things, but yes, Brexit definitely is part of the root cause of the issue.

The UK has some weird rules and laws like how the mortgage rates are pretty much all variable, tied to the interest rate. So, people's mortgages are going through the roof with higher rates.  DH once had a mortgage in the UK, and when the rates started climbing, he could no longer afford the mortgage. He sold and took a huge loss.  I cannot imagine having such an unstable mortgage, which is a huge % of your income.

With winter coming, and the war in Ukraine, their heating bill is going to sky rocket.

DH thinks the pound will sink further in the coming months. Too much instability.

But, this is what the people voted for - a hard brexit.[/quote]

Europeans are dumb.

When I was buying my Lisbon property I was quoted so many variable rates that the banker was shocked when I asked for fixed terms.

He incredulously said “do you really think rates are ever going to go up”

He said no one he has ever worked with ever asked for a fixed rate product.

I smirked and just told him to present the best fixed rate offer from the bank

This was in July 2020

In NL, they are/were giving non-permanent residents 100% ltv loans on variable rates….

I can’t wait for Western Europe to melt down further and we all have 3rd 4th homes in Europe with Europeans working as domestic staff for us

[/quote]

Wow, smugness, no? Is that the best example you can give? Not sure what sort of sophisticated banking system you were expecting in Portugal, one of the poorest countries in Europe with a population of 10 million and an average income of $10,306 compared to the US's $25,332.  [/quote]

It was an example but NL, one of the richest countries in the world is even worse when it comes to property leverage

Western Europe is going to melt down and will be ripe for picking for us [/quote]

Are you aware that the main reason for the UK's economic problems is that they left the EU?  I don't doubt many Western European countries have problems due to covid but it's a bit odd you think the UK's problems are somehow related.  [/quote]

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