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 commented: “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.”
