Monday February 6, 2012
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Currency Mortgages

A foreign currency mortgage is a mortgage where the loan is drawn down in a currency other than the denominated currency of the asset. Foreign currency mortgages are most appropriate when you earn income in a currency other than the denominated asset. The currency mortgage service is primarily geared towards investors globally purchasing residential property abroad for investment, buy to let and in some cases, for holiday home purposes#. It is not available for the acquisition of a principal place of residence (except Hong Kong & Singapore).

The product is highly flexible and provides the following:-:

  • Multi-jurisdictional coverage:
    Great Britain, Spain*, France*, Portugal*, New Zealand and selected locations in Australia, Canada and the USA, as well as in Dubai, Hong Kong and Singapore.
  • Competitive interest rates (refer to individual Countries for specific terms / rates)
  • Multi-currency loan facilities**
    Available in Sterling, US Dollars, Euro, Australian Dollars, New Zealand Dollars, Canadian Dollars, Japanese Yen, Swiss Francs, Hong Kong Dollars Singapore Dollars.
  • Free currency switching option
    Combined with multi-currency loan facilities, and subject to status and conditions, we allow currency switching between approved currencies.
  • Decision in Principle (DIP)
    If you intend to buy overseas property, take advantage of our pre-approved financing.
  • No penalty for buy-to-let properties
  • Up to 100% financing available (subject to credit status and additional security)
  • Special Refinance Deal currently available
  • Maximum repayment term of up to 30 years or 70 years of age, whichever is the earlier - including interest only loans.
  • Free direct debits to service your loan repayments. when you open an international account with the bank

# Please note that the service is principally designed for customers planning to purchase properties outside their country of residence. We can provide mortgages for owner occupation in Hong Kong and Singapore , but not in other countries . Other restrictions related to property use may also apply and details are available upon request.

Please also note that we would normally not provide financing for certain types of property such as serviced apartments, resorts, golf course properties, student accommodation or former local authority or public housing.

* Not available to corporate and trust structures as well as to those cases where the borrower(s) of the loan and the owner(s) of the property are not the same person(s). Foreign borrowers are required to obtain a Non-Resident Buyers' Identification Number (NIE) before purchasing a Spanish property and are advised to seek their own legal advice with regard to the application for a NIE.
** Subject to qualification criteria and availability which varies from time to time.




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Recent Instructions

Purchase of 4 North London apartments for £1.65m for wealthy African family through a BVI company which is in turn owned by a Trust administered in Switzerland. Finance of 80% approved at 3.04% for a 20 year term.
UK clients based in the RoI seeking finance to purchase a small portfolio of UK properties taking advantage of depressed market prices. Total funding requirement £925,000 approved over a 20 year term.
Existing client (UK Expat) based in Brunei looking to purchase a third property back in the UK for £300,000 on a buy to let basis. Finance raised on an interest only basis over a 10 year term.
UK Nationals based in Ghana purchasing North London property for £1.885m with  renovation to be completed at a further cost of £400,000. Residential mortgage of £1.16m to assist with acquisition.
Channel Islands resident with commercial property based in London valued at £2m. Property owned by SIPP and placed in offshore company with equity release to beneficial owner of £500,000
UK National from Scotland with flat based in Glasgow. Living and working on a yacht in the Caribbean seeking mortgage of £70,000 to refinance current mortgage from onshore lender.

UK National based in Abu Dhabi with a flat in the West End valued at £1.7m seeking to refinance from current lender and equity release for further property acquisitons.

Extensive residential, hotel and golf course development in South Africa - €40m

UK Expat based in Moscow looking to relocate family back to UK. Seeking mortgage at 75% of purchase price.

Expat with property based in Channel Islands. Seeking mortgage of £150,000 on property valued at £250,000 to refinance from current lender and small equity release.

Singaporean clients looking to purchase London property at £450,000 for rental investment opportunity. Loan required of £300,000

Expat based in China seeking a refinance of UK property valued at £235,000. Existing lender would not renew as borrower no longer UK resident.

Singapore based Lawyer seeking finance for refinance and equity release on existing UK property to purchase additional investment property - £400,000

New Zealand based client with property in London valued at £450,000. Seeking refinance and equity release to purchase New Zealand residential property for own occupation - £250,000

Swedish client owns a 15 unit residential property on Fulham Road, Chelsea through a BVI company. Refinance sought on improved terms with a 5 year interest only facility - £3.2m

Refinance and equity release of three high-end apartments for lawyer based in Cayman Islands - £2.7m

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