International Currency Mortgages

International currency mortgages offer the opportunity for property owners to make large savings, not only on their interest payments but also reductions on the outstanding capital that they owe on a property.
This is very attractive to people living and working in Singapore as the rates available to earners in SGD are particularly low. Currently a mortgage denominated in SGD attracts rates as low as 2.7%.
This applies to property owned in Singapore and abroad. International currency mortgages can be applied in many jurisdictions globally.
Imagine being able to refinance your property in the UK or Australia at a rate of 2.7%. There are huge potential savings by doing this, not to mention the investment potential.
There are also opportunities to reduce the capital amount of a mortgage by utilizing a currency switching option. This can be implemented when currency movements are favourable and can be used to actively reduce the amount owned on a mortgage.
Care should be exercised when switching currencies, as without correct advice the loan amounts can increase. The currency risk can be minimized with careful monitoring and management from qualified currency advisors.
If you have existing property or are looking to purchase more - contact MBMG.