Did you know that it is possible to obtain a foreign currency mortgage for a UK residential home?

Borrowing in a foreign currency that has a lower interest rate than Sterling is an attractive proposition and offers the possibility of sizeable reductions in monthly payments.

Whilst it is very tempting to look only at the cash flow benefits of low interest rate currencies, it should not be the only consideration when assessing the suitability of a foreign currency mortgage facility. The effects of fluctuation in exchange rates should also be considered as these can directly affect the size of a borrowers outstanding loan. If the chosen currency weakens against the value of sterling, the value of the mortgage debt will be reduced. Equally, if the currency strengthens, then the sterling equivalent of the mortgage will increase.

If you have  a question or require further details on mortgages for Great Britain, please CLICK HERE and a qualified member of staff will reply to you promptly.

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As always, there is NO cost or obligation to find out what we can do for you.

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