Euro Mortgages

Euro Mortgages

Euro Mortgages - are available through Capital Fortune. A Euro mortgage is simply a mortgage loan offered in Euros by a UK mortgage lender. Euro mortgages can also be arranged in a range of other currencies including American and Australian Dollars, Sterling and Yen.

Interest on Euro mortgages is payable in Euros and you can normally pay the monthly mortgage payments through your mortgage lender who will organize the foreign currency exchange for you. You will have the option to pay them in Euros or sterling and if sterling, they will convert it into the foreign currency in order to meet the monthly mortgage payments. Your mortgage debt will remain in Euros until such time as the mortgage is redeemed. It will then be reconverted to sterling or another foreign currency of your choice.

Some mortgage lenders allow a multi currency switching facility and it may be that you purchase your initial mortgage in Euros, but given foreign exchange movements you wish to switch foreign currency back into sterling, dollars or Yen. You can potentially take advantage of foreign currency exchange movements by switching your mortgage debt in and out of foreign currencies.

Other mortgage lenders allow flexible foreign currency mortgages and allow you to choose a selection of foreign currency in different proportions.

Capital Fortune is not authorised or regulated to give specific financial advice on which foreign currencies to choose however, our lending institutions do have in-house specialist advisers. These advisers can assist in.monitoring the loan and will seek to maintain the mortgage in any foreign currency that is expected to weaken against sterling. The mortgage lenders will usually charge you an annual management fee for this service.

Euro mortgages are only suitable for those who are aware of the risks involved and can cope with potential increases in the amount owed on the mortgage.

For more information on Euro mortgages contact our specialist foreign currency team on 020 77 100 400 or Enquire Online.

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