The mortgage is available to purchase or remortgage borrowers and offers the opportunity to benefit from a rate that has been consistently lower than UK LIBOR since 1999. By averaging both Euro and US LIBOR rates at fixed three-monthly intervals, the aim is to produce a less volatile loan rate over the long term than a single LIBOR rate whether that is Euro, US or even UK.
David Copland, sales and marketing director at Pink Home Loans comments: “Pink Home Loans is again leading the way with the launch of this innovative product in association with Leeds & Holbeck. The product is the first of its kind to be launched making it unique in the intermediary mortgage market. It is aimed at the financially astute client wishing to benefit from a tracker product linked to LIBOR rates in Europe and the US, which are currently lower than in the UK.”
Jeff Kirk, corporate relationship manager at Leeds & Holbeck, said; "This mortgage is likely to appeal to the more financially aware borrower who is familiar with the markets and takes an active role in managing their finances. The International Reserve mortgage will appeal especially to any borrower who holds the view that Euro and US LIBOR rates are likely to remain lower than UK LIBOR but does not want the risk of exposure to currency fluctuations. The recent cut in the European base rate of 0.50% to 2.00% has made this an extremely attractive product".
For more information, call Pink Home Loans on 08707 590169 or visit the Pink website at www.pink.uk.net