Foreign Currency Loans

In Spain, a foreign currency loan is anyone which is not in Euros (or pesetas). There are a number of currencies which enable the borrower to obtain the more competitive rates which are currently being offered in the international money markets. For example, a mortgage loan in Japanese Yens allows very low rates: currently, the yen rate is under 1%, which would mean that a borrower could have a mortgage loan for less than 2.5%.

The Swiss Franc market is also a currency to be considered, as the rates are within the 3%-3.5% band.

Some Spanish banks can offer a multiple currency mortgage loan which mitigates they main risk associated with this product: an adverse fluctuation in currency parity between the currency of the income of the applicant and the currency of the loan. If the currencies move unfavourably to the borrower, the loan can be switched to another currency, even to the Euro.

easy2loan.com is currently in the process of analysing these specific products in order to be in a position to recommend and offer them.