International Mortgages

International Mortgages

The Euro Mortgage Shop has a range of specialist mortgage products with Multi-jurisdictional coverage;

Residential Property Mortgages available for purchases in the following countries;

We can also finance purchases in selected locations in Australia, Canada and the USA.

Lenders

We have a range of lenders who can provide finance for your purchase, our partners include;

Our specialist Products include;

Flexible Interest Only

A loan split into 2 phases, the 1st phase is Interest only and allows you to make lump sum reductions during this phase. The 2nd phase is a conventional repayment mortgage and takes effect at the end of the 1st phase, any residual balance is transferred to a repayment program over the remaining terms of the loan.

The term of the loan can be anything up to 25 years, generally the 1st phase will be a maximum of 10 years.

This type of loan is ideally suited to the professional who receive lump sum bonus that they wish to use in repayment of their loan and also to clients who anticipate a lump sum in the future ( perhaps from a retirement plan).

The loan is available for purchase of property in France, Spain, Portugal and the Republic of Ireland.

Currency Switch Mortgages

For the financial astute borrower!

This option allows you to potentially manage the risk of a single currency mortgage loan by maximising the foreign currency exchange effect. Basically, this means that you are able to switch the currency in which the debt is held (and interest charged) into the most advantageous currency, depending on the prevailing foreign currency rates of interest and the direction in which exchange rates are moving.

For example, let's say you originally borrowed in Euro, but the Euro is strengthens against Sterling. This means that the amount you owe is effectively increasing in Sterling terms as the same amount of Sterling buys fewer Euro. At the same time, the $US is weakening against both currencies, a fact which would normally have no effect on your loan. If you have the facility to switch your debt to the weakening foreign currency, $US in this case, then you are effectively acting to further reduce the balance of your loan as Sterling is able to buy more $US for each pound you have at your disposal.

In another example you may find yourself buying a property in a country such as the USA Normally the purchase and any mortgage would be linked to the $US, however if you happen to work outside the USA, perhaps in Euro zone, you may wish to borrow in Euro against the USA property. This is possible with this type of loan, you may or may not choose to add the switching facility.

Where you have chosen a foreign currency mortgage with this currency switch option, please ensure that you are aware what you are entering into, this type of facility when well managed could save thousands of pounds in the long term, however could also prove costly if you do not show good judgement. While this system of debt management can be a really effective way of reducing your mortgage, you need to be comfortable with a risk that could end up costing more on a monthly basis if currency mortgage arrangement goes wrong.

We would advise you to seek professional advice in this regard.