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US Dollar mortgage?
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DrGUID
Posts: 27 Forumite
Hi,
Is it possible to get a USD mortgage for UK property (I have a BTL flat). About 20% of my income is in USD so I would be protected from any currency fluctuations. I'd guess that if I got a USD mortgage my interest payments would be about 30% lower than they are now, which would be a huge monthly saving!
Is it possible to get a USD mortgage for UK property (I have a BTL flat). About 20% of my income is in USD so I would be protected from any currency fluctuations. I'd guess that if I got a USD mortgage my interest payments would be about 30% lower than they are now, which would be a huge monthly saving!
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Comments
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Assuming that your US$ income could cover the mortgage payments it does seem like a reasonable plan. The only downside is the exchange rate from sterling to dollars, so timing is very important.
Finally, unless the mortgage on your property is big say 500k+, you may have a problem finding a suitable US$ lender.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Are you in the UK or abroad?
There are lenders that can look at foreign currency options like you suggestI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I am looking for > $0.5m Dollar ReMortgage on a UK property.
How can I get in touch with herbiesjp?
SHREE0
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