Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Foreign Currency Mortgage as it relates to mortgages in the UK. Foreign Currency Mortgage These are mortgages where the loan has been drawn down in another currency which is not Sterling. Such loans require careful consideration as they can be beneficial however the opposite also applies and in some cases borrowers have found the mortgage debt has increased because of currency movements. Financial advice should be sought if considering such a mortgage.   Previous 10 terms < Flying Freehold < Flexible Mortgage < Fixed Rate Mortgages < First Time Buyer < Existing Liabilities < Exchange of Contracts < Essential Repairs < Equity < Endowment Mortgages < Early Redemption Charge Next 10 terms Form 53  > Freehold  > Further Advance  > Ground Rent  > Guarantor  > Higher Early Redemption Fee  > Income Multiples  > Individual voluntary arrangement (IVA)  > Interest Only Mortgages  > Joint Tenants  >