In addition to sterling mortgages we can also arrange foreign currency mortgages for our clients who are buying UK property. Our managed multi-currency mortgage service offers three potential benefits:
- Debt reduction – this is achieved by switching your mortgage between foreign currencies which weakens against sterling
- Interest rate savings – this is achieved through borrowing in one or more low interest rate currencies
- Tax efficiency – depending on your circumstances, a managed currency mortgage may offer certain tax efficiencies
With these potential benefits come risks and foreign currency loans should not be considered by anyone who is unable to afford the financial implications of a permanent increase in their loan, resulting in higher sterling interest rate payments. Levels and bases of reliefs from taxation are subject to change and their value depends on the individual circumstance of the investor.
Foreign currency mortgages are not for everyone but can be a good option for those that know the risks involved. Largemortgageloans.com are experts in finding mortgage solutions for complex requirements with access to a wide variety of private lenders.