A multi-currency mortgage is a mortgage which is secured against a UK property but not necessarily held in sterling. It can be held in a number of currencies such as, the Euro; US Dollar, Yen, Franc, Deutsche Mark or the Australian Dollar. It can therefore allow clients to swap currencies during the mortgage term to best suit their finances.
Due to the highly specialised nature of this type of mortgage, banks impose the following conditions including, loan sizes generally start at 1 million, clients must have a significant income or hold significant assets in the nominated currency in addition to having previous experience in dealing with multi currencies.
When applying for a multi-currency mortgage it is important to approach the right mortgage broker and bank as different mortgage lenders have different rules and interest rates and can vary accordingly.
A million pounds was a lot of money once. It still is for most of us but the rise in people with millions, or even billions, in assets means banks are downgrading some accounts and creating a new layer of ultra exclusive services only avail
News - 07 May 2017
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Our mortgage brokers offer mortgage advice on a wide variety of mortgages, more detailed information about the different mortgages can be found below.