# Loans



## richtea (Feb 11, 2008)

Hi All
As we are all aware the Euro exchange rate is awful (to be polite) at the moment and I am sure there are others out there that are in the same situation as I am.
I am building a house in the Alentejo which is coming up to completion within the next 3 or 4 months I have to come to Portugal from the UK in January to pay the builder the largest part of the building costs but have until now not been able to dip in to any funds for this as they are my only savings.
The cost of the building has increased around 10% to 15%.
As I have limited monies I am toying with the idea of taking out a Euro loan where I can borrow Euros and pay back in Euros therefore taking time to pay back hoping that the Euro will decrease significantly against the £ as to decrease my overspend.
What are your thoughts and am I barking up the wrong tree or do any of you know how I can take out such a loan from the UK.

Thank you to anyone that replies good or bad.


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## DaQueen8 (Dec 15, 2008)

not sure how to get a loan in the UK, but I don't like the idea of "hoping that the Euro will increase significantly as to decrease my overspend".... that sounds like a dangerous idea to me

how much do you need to borrow? when would you expect you'll want to pay it back? how much of your income is going to paying back debt currently?


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## richtea (Feb 11, 2008)

Thanks for the reply 
I have now put my brain in and altered the the sentence should have been decrease in euro to decrease my overspend.
Around 30000€ over 3 years and 25%.
I have a Portuguese bank account so might speak to them.


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