Everyone seems to have missed the fact that a lot depends on how you get your own pension, salary or other income in the first place.
Whichever currency you receive your funds in, will mean being open to the volitility of the currency market should you borrow in another curtrency.
Obviously borrowing from a country with low interest rates initially looks attractive, but as can be seen on the graphs above from another member, most currencies tend to fluctuate across many percentage points.
If we could all predict the currency markets then we would all be millionaires.
If, for example you receive your income in £ sterling, and take out a mortgage in another currency there are ways to protect your payments by adopting a Regular Payments Plan through a currency exchange company.
They will guarantee a rate for up to 2 years (min 6 months) to protect you from fluctuations in the market which also enables you to calculate your exact budgetry requirements over that period. You then keep renewing your plan each couple of years. Or a period to suit you. They will then send your required currency to your overseas bank free of any charges at either end.
If you wish to receive full details please PM or you could contact the biggest in the field, who I have used, which is HIFX PLC. They are based in Windsor in the UK.
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by bungle » Mon Sep 18, 2006 4:08 pm 
we've been wondering if taking out a foreign currency mortgage - as opposed to Cyprus Pounds makes sense.
