largemortgageloans.com launches UK’s first
multi-currency offset mortgage product
29th April 2010
A private bank has agreed to provide largemortgageloans.com with funding for what is believed to be the first multi-currency offset mortgage to be launched in the UK.
The mortgage assists international buyers of million pound UK properties as the loan is agreed in Sterling against residential properties and the client has the ability to offset cash in Sterling, US Dollars, Euro or Swiss francs against the loan. The cash and the currency of the cash can change on a monthly basis.
Paul Welch, Managing Director of largemortgageloans.com comments:
“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.”
ENDS
Notes for Editors
Contact – Paul Welch, Managing Director of largemortgageloans.com:
telephone: 020 7519 4900
e-mail: paul.welch@largemortgageloans.com
- was voted Large Loans Broker of The Year at the 2009 British Mortgage Awards
- was the first mortgage broker in the UK to specialise in arranging large mortgages
- is placing a steady stream of large mortgages, even in the current lending environment
- has expertise and experience in creating a tailored solution for brokers and their clients
- caters for foreign nationals, British expats, UK residents earning in foreign currencies and ‘non-domiciled’ UK residents
- helps find the right foreign currency mortgage for those who are prepared to consider more risk
- never forgets whose client it is – the broker’s – and guarantees not to cross-sell any other products
