Non-Sterling Remuneration
The Society will normally only consider foreign currency applications where borrowers are paid in either US Dollars, Euros or Norwegian Krone.
Exceptions may only be agreed by the Head of Lending or Mortgage Operations Manager.
- All foreign currency applications to be referred to Mortgage Underwriting in the first instance.
- The exchange rate of a foreign currency against sterling for completed accounts will be monitored on a daily basis by Mortgage Operations in recognition of exchange rate risk.
- Borrowers will be advised if at any point there is a 20% variance in exchange rate from the date funds were drawn.
FOR INTERMEDIARY USE ONLY
