Foriegn Currency Mortgage

Did you mean foreign currency mortgage

Most mortgages taken out by UK homebuyers are not surprisingly in Sterling. Most of us earn our income exclusively in pounds so when we borrow money to purchase a home we naturally borrow in our own currency.

For the more adventurous who are not afraid of being exposed to extra risk there are foriegn currency mortgages on offer from a small selection of UK lenders. To put it in formal language a foriegn currency mortgage is a mortgage where the denomination of the debt is in a different currency to the currency associated with the asset upon which the mortgage is secured.

Moneyextra.com recommends you take independent financial advice before acting on any article

2009-02-17 00:00:00 © Moneyextra.com