Mortgages could cost less in foreign currencies

by Richard Kilner

Story link: Mortgages could cost less in foreign currencies

Mortgage debts could be reduced if they are taken out in a foreign currency.

Alexander Associates Group’ CEO, David Alexander, has stated that individuals considering taking out such a mortgage, on the basis that sterling will rise in value compared to other currencies, can take out a managed currency mortgage.

Alexander went on to say that, as currencies vary in value compared to one another, people do not need to tether themselves to one currency and can make money by, effectively, having their mortgage devalued.

He went on to suggest that individuals can be employed to manage mortgages on a day-by-day basis across a range of differing currencies.

Alexander said that mortgage costs could be cut by 5% per annum through this method.