Foreign Currency Mortgages (Cont'd)
In addition, the terms on which foreign currency mortgages are generally offered are less attractive to borrowers than UK mortgages. Typical loan-to-value ratios vary from 65-80%, meaning you would need a deposit of between 20-35% of the value of the property. It is common for UK buyers to raise a deposit by extending their UK mortgage and then take a foreign currency mortgage for the balance.
NOTE: CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.
<< PREVIOUS PAGEYour home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it. Think carefully before securing other debts against your home.