Foreign Currency Mortgages Gathering Steam In London
BANKS
Here’s a new twist. A few banks and mortgage brokers in London are offering homebuyers the opportunity for arbitrage with foreign currency mortgages, an idea that has gathered considerable steam--and press attention, since Britain’s entry into the ERM.
"Lately, we’ve had a spurt of interest," says Ian Darby, marketing manager for John Charcol, a London mortgage broker that is the most prominent vendor of these mortgages and has been in the business for two years. Others include Kleinwort Benson
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