A foreign currency mortgage is a mortgage where the loan is drawn down in another currency rather than in Sterling. Sometimes people opt for a foreign currency mortgage to take advantage of lower interest rates abroad. Foreign currency mortgages may be used for one of two purposes: buying property abroad or mortgaging your home in the UK with a loan denominated in a foreign currency.
Signature advisers are qualified to guide you through the maze of terms and conditions associated with foreign currency mortgages and advise you of potential pitfalls such as adverse currency movements which can actually increase your mortgage debt.
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