Foreign Currency Loans
Fazil Kazmy CeMAP. CII ER1
Residential & Commercial Mortgages??BTL/HMO/MUFB??Bridging??2nd Charge Loans??Trusts Wills Equity Transfers??Property Finance??BRRR??Refurbishment??Remortgages??Capital /Raising??Expats??Business Loans??Insurance??BMVs
The MCD defines foreign currency mortgages as mortgages in a different currency to that in which the customer receives their income or a mortgage in a different currency to the EEA state in which the customer is resident.
Where all, or part, of an applicant’s income used to make the mortgage repayments, is paid in a foreign currency, the MCD requires advisers to provide additional point of sale risk disclosures (through the Mortgage Illustration) and lenders to monitor the customer’s foreign exchange exposure and notify them when it deviates adversely by 20% or more from the exchange rate at the point that the mortgage was completed
For further information / Placing your case please get in contact with myself either by phone /Inmail - 07950 175666