Multi Currency Mortgages.

vince249

I've just read an ad for Multi Currency Mortgages they look very attractive, has anyone any experiance or knowledge of these.

yonk

I looked at these a while back. Specifically, managed multi-currency mortgates.

Got the brochure from ECU - fairly steep charges and they interview you to see if you are suitable to take on the extra risks involved. You have to be earning a reasonable amount as well. Theybase their interest rate on LIBOR.

They swap your mortgage into different currencies with the result that your mortgage capital is reduced as the currencies move. Of course, no-one can really predict FX movements so it's more an educated guesstimate and not for the faint-hearted. So your loan can go up as well as down and if it goes up by 20% they swap back into Sterling.

Who have you been looking at?

chubbybrown4real

A canadian uncle of mine checked these out for me.

he was very wary of the tie in's

twas with yorkshire or skipton I think

yonk

Have a look at the LIBOR thread below