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Foreign Currency Mortgages

Reduce the capital value of your mortgage by switching currencies

The information on this page is for information purposes only and is not a recommendation or advice.  Any enquiry will be referred to the FSA regulated adviser or lender who will advise on this type of borrowing according to your circumstances.   You must be able—and prepared—to tolerate adverse currency movements.

There are Single Currency loans (some lenders allow 4 free currency switches a year) or Multi Currency loans (managed currency swaps).

Single Currency Mortgages

Scenario 1 - UK Residents:

 On UK property

    Lending Criteria for Buy-to-Let property

  • Minimum loan £250,000 (currency equivalent)

  • Minimum income level £200,000

  • Loan to value 75%  (Interest only 65%)

  • Income or assets in currency concerned NOT required if property is not your  personal residence

  • Foreign Currencies available US$ 4%, Euro 4.75%, Japanese Yen 2.00%, Hong Kong $ 5.8%, Singapore $ 3.8%, Swiss Franc 3.75% - rates given as a guide only on 21 February 08 .

  • 4 Currency switches permitted a year (usually on loan instalment date) at no cost

If you would like to know more please contact us

 

    Lending Criteria for your own residence:

  • Minimum loan  £250,000 (currency equivalent)

  • Debt/Equity ratio (Loan To Value) of 70% max

  • Income or assets in the currency concerned may be required

If you would like to know more please contact us

Scenario 2 - Non-UK Residents

(British Expats and Foreign Nationals):

 

 On UK property only

      

Lending Criteria for your own residence and Buy-to-Let:

  • Minimum loan in GBP £50,000;  Foreign Currency £100,000 (currency equivalent)

  • 4 Foreign Currency switches a year (usually on loan instalment date) at no cost

  • Sterling loans - maximum Loan to Value (LTV) 80%

  • Currency loans - maximum LTV (75%)

 

If you would like to know more please contact us

Scenario 3 - Residential properties outside your country of residence (investment, holiday homes, buy-to-let):

 

We are able to assist with financing for customers who are planning to purchase or re-finance residential properties outside their country of residence, either for investment, as buy-to-let, or as holiday homes.

The maximum amount you may borrow is usually the lower of 80% of the purchase price or valuation of the property (70% for property in Hong Kong, Dubai or Portugal).

The countries presently covered are as follows:

• Great Britain

• Australia

Selected locations in New South Wales, Queensland, South Australia, Western Australia & Victoria.

• New Zealand

• Canada

We can finance properties in the following provinces; British Columbia (Greater Vancouver, Squamish, Whistler, Victoria, Kelowna & Nanaimo), Ontario (Greater Toronto & Peterborough),Quebec (Mont-Tremblant, Quebec City & Montreal), Alberta (Calgary & Edmonton).

• USA

We can finance selected locations in the following states; California, Colorado, Connecticut, Florida, Hawaii, Nevada, New Jersey, New York, Washington State, Oregon.

• Spain

All mainland plus Canary & Balearic Islands.

• France

Mainland France only.

• Portugal

• Dubai

Available on agreed developments from the following developers only: Emaar, Nakheel, Dubai Properties and Union Properties.

 

If you would like to know more please contact us

 

You must be able—and prepared—to tolerate adverse currency movements

   If you would like to know more please contact us

 

Multi Currency Mortgages 

This section is being re-drafted.  Please re-visit at a later date.

The information on this page is provided as a guide and nothing contained herein should be construed as specific advice or recommendation.  Jayga Ltd makes no warranties or representations regarding the fitness for purpose of the content provided for your particular circumstances.  We  do not advise on legal, financial or tax issues and if advice is required we recommend that all clients seek the best local professional advice in their country of residence.  

www.jaygaltd.co.uk