Largemortgageloans.com gains funding for multi-currency offset mortgage
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A private bank has agreed to provide Largemortgageloans.com with funding for what is believed to be the first multi-currency offset mortgage in the UK.
The mortgage allows international buyers of £1m plus UK properties to agree the loan in Sterling and the ability to offset cash in Sterling, US Dollars, Euros or Swiss Francs against the loan. The cash and the currency can be changed on a monthly basis.
Largemortgageloans.com managing director Paul Welch says: “This arrangement will give excellent flexibility to high net worth individuals who do not wish to move other currencies into Sterling but wish to offset currency funds against their loan.”
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