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Borrowing in dollars
stebiz
Posts: 6,592 Forumite
I'm thinking of investing in a few further properties and was looking at possibly borrowing at the low US rates of interest. The properties could be in both UK ans US or just in US. Has anybody done this?
Cheers
Stebiz
Cheers
Stebiz
Ask me no questions, and I'll tell you no lies
0
Comments
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With currency mortgages you usually need much lower LTVs. They are also aimed at those with 100k+ income pa. Unless you fit either then you might find it tricky. It is probably something a specialist mortgage broker or a wealth management company could help you with. Ecugroup is a big player in this. They are quite a niche product and you'd need a lot of capital set aside if the dollar were to rise against sterling. I'd choose a time when rates were low but the dollar had just rallied to a reasonable high before switching the mortgage into dollars. If you wait until the dollar is quite low and it goes up then you have to pay in the difference.
They are definitely for those with high value property as I don't think the numbers add up below about 500k with all the charges and wotnot.0
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