|
Financial
Services
> Mortgages
> Holiday
Homes
> Dollar
or Sterling
Dollar
or Sterling?
Do
you have a mortgage
on your holiday
or investment
property in Florida?
If
so, have you considered
using the current
exchange rate between
the US Dollar &
the British Pound
to lock in the savings
you have made since
you purchased your
home in Florida.
Consider
this example:
If
you purchased a
property with a
mortgage of $146,000
when the Dollar/Sterling
exchange rate was
at, say, 1.46, you
would now have saved
23% on your mortgage
balance if you convert
to a Sterling based
mortgage*. How?
|
Mortgage
Amount ($)
@ 1.46 |
Sterling
Equivalent
@ 1.46 |
Current
Value (£)
@ 1.90* |
|
146,000 |
100,000 |
76,842 |
Not
only that, but your
monthly repayments
would have come
down from £585.36
Sterling equivalent
to £449.80**
There
has never been a
better time to convert
your US Dollar mortgage
into Sterling, so
what should you
do?
Well,
there are two options.
1.
Take a new mortgage
on your Florida
property in a Sterling
denominated account
2.
Re-mortgage your
UK home to raise
the funds to repay
your Florida mortgage
Interested?
Then Click here
for a quotation
to see how much
you could save!
*
Assumes Dollar/Sterling
exchange rate as
at 18th
February of 1.90484.
Source: http://www.xe.com
** Assumes an interest
rate of 4.9%, capital
& interest mortgage
over 25 years
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