Lowest ever foreign currency mortgage rates with Enness

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Many people who reside in the UK take an element of their income in foreign currency. For example, bankers and lawyers often take their salary in sterling, but their bonus or commission is paid in a foreign currency. Furthermore, if you’re an equity partner at a worldwide law firm you are technically classed as self-employed, and will often take some of the profits in another currency. However, access to a foreign currency mortgage has become quite rare over the years, only being offered by private banks at quite high rates.

As we see more and more people moving back to the UK – both expats who are returning and foreign nationals who are moving their lives here – we are now seeing some high-street lenders re-entering this market, and one in particular on Enness’ panel is offering an exceptionally cheap rate.

The lender can take foreign income into account for affordability, whereas other high street lenders can’t – most lenders can only take the UK income so clients are very restricted.

They can even do this for clients who are remortgaging and looking to borrow over £1million – although loan to value (LTV) gets restricted to 75% at this level. Borrowers can also have most of the mortgage on interest only if the loan is 75% LTV or lower, which is often preferable.

Product information:

75% LTV

  • 1.98% 5 year fixed
  • 1.28% 2 year fixed
  • Lender fee: £995 – most lenders that can use foreign income charge over 1% of the loan amount.

85% LTV

  • 2.29% 5 YEAR FIXED
  • 1.45% 2 year fixed
  • Lender fee: £995 – most lenders that can use foreign income charge over 1% of the loan amount.

90% LTV

  • 2.79% 5 YEAR FIXED
  • 2.18% 2 year fixed
  • Lender fee: £995 – most lenders that can use foreign income charge over 1% of the loan amount.

If you take home some or all of your salary and bonus in foreign currency, we have the lender panel to support it, whether it’s with a private bank or on the high street. Get in touch to discuss you requirements.

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