12 Pepper Street
Docklands, London
E14 9QY
brokers@sophisticatedmortgages.com
If your client requires a loan of £250,000 or above and is aware of both the potential benefits and risks of a currency mortgage, our product may be suitable for them.
The objective of the multi-currency mortgage management programme is to reduce the size of your client's mortgage by borrowing in currencies which fall in value against sterling; and reduce the cost of servicing the debt by borrowing in currencies which have a lower interest rate than sterling.
However with these potential benefits come risks, and foreign currency loans should not be considered by anyone who is unable to afford the financial implications of a permanent increase in their loan and the resulting higher sterling interest rate payments.
Please make these risks clear to you clients before submitting an enquiry to us.
For some individuals buying property in the UK, deciding whether to purchase the property in your personal name(s) or use a company and trust structure requires professional tax advice. For example, using offshore mortgages provides everything you would expect from a traditional onshore mortgage with the added benefits of tax advantages for specific situations where the interest on the loan could be paid out of foreign income, without that income being taxed in the UK.
If the application has been submitted directly to us, we usually pay a procuration fee of 0.25% of the loan amount, dependent on the lender.
We pay commission to brokers within 30 days of Sophisticated Mortgages receiving payment from the lender.