Florida Mortgages

BRITISH HOMES GROUP Press Releases

Inside Business takes a look at investing in the Florida property market.

A piece of Florida with peace of mind...

Thousands of Thames Valley residents will be tasting the good life abroad this holiday season, basking in glorious sunshine and staying in palatial holiday homes and villas around the world.

And if you've just returned from that dream holiday home in the sun - chances are you've come back determined to buy one!

Thousands of British people buy homes abroad every year to use either as holiday havens for themselves or as buy-to-let business investments with an eye on retirement. But thousands more are put off by the thought of grappling with international red tape and the prospect of a foreign currency mortgage.

That could all be about to change for those keen to buy in one particular corner of the globe well known as the vacation capital of the world. The Florida-based British Homes Group is aiming to make buying in the American sunshine state simple for UK residents. As well as providing a portfolio of top quality homes, The British Homes Group offers advice and support right through the process from initial inquiry to moving in day and beyond. And they can bring peace of mind too by arranging a new UK-based sterling mortgage for that dream home in the sun.

British Home Loans - part of the British Homes Group - is the largest provider of British mortgages for UK residents owning homes in Florida and wanting to use their Florida home as security for a UK sterling mortgage.

British Home Loans is the only fully licensed mortgage brokerage company in either the UK or the United States specialising in finding and financing holiday homes and investment properties for UK residents purchasing in Florida.

British Homes Group is staffed with a full compliment of British and American property and mortgage experts - so they know how to speak both 'languages'!

British Homes Group is a member of the National Association of Mortgage Brokers in the United States and a Board member of the British-American Chamber of Commerce in Florida.

A recent pilot test researched the need for a British Sterling Mortgage for UK residents wanting to either buy a holiday home in Florida or refinance their existing US dollar mortgage - using their Florida home as security.

The pilot test was a huge success, with hundreds of British home owners refinancing their US dollar mortgage to a sterling one. And British Homes Group are now expanding the offering to all qualified British homeowners - and prospective homeowners - in Florida.

The programme - called British Mortgages Abroad - is offered through First National, which is based in Harrow, Middlesex, and was part of the Abbey National Group of Companies until the acquisition by General Electric.

So what's wrong with a US Dollar Mortgage?

Nothing - if you live in the US and are paid in dollars! The British Mortgages Abroad pilot test followed an extensive market research programme in both the UK and Florida. The research study clearly indicated that many UK borrowers were experiencing a variety of problems with their US dollar mortgages.

The market research study indicated that among the common problems experienced by some UK borrowers of US dollar mortgages were:

High US mortgage interest rates for all 'Foreign Nationals' - including Britons.

Poor customer service.

Worrying monthly payment currency exchange risks.

Annoying and often expensive 'hidden costs'.

These and other troublesome findings led to the development of a UK sterling mortgage specifically designed for UK homeowners in Florida.

What are the benefits of a British Mortgage versus a Dollar Mortgage?

If you live in the UK and are paid in pounds the advantages of a sterling mortgage can be significant.

These include:

Continuing and uninterrupted service from one UK lender - First National Consumer Finance.

No monthly currency exchange risks - with both the UK mortgage and the monthly payments being in UK pounds.

No 'hidden costs' - with new loan costs being fully and clearly disclosed in a simple 'good faith estimate' (GFE) before closing and all subsequent monthly payments being made via convenient and no-cost direct debit in the UK.

British Home Loans, as a fully licensed Florida mortgage brokerage company, can, of course, arrange both US dollar and UK sterling mortgages. However, they believe the vast majority of UK homeowners in Florida are better served with a UK sterling rather than a US dollar mortgage.

And in the last year alone, British Home Loans helped hundreds of UK families lower the cost of their Florida mortgage - and focus once again on enjoying their Florida holidays rather than worrying about the mortgage on their Florida home.

Who qualifies for a British Mortgage in Florida?

A British Mortgages Abroad home loan is now available to any qualifying UK resident home owner wanting to purchase or already owning a holiday home in Florida.

The Florida home can be for either personal use or for renting out on a week-to-week, buy-to-let basis to help offset the mortgage payments - or a combination of both.

For more information contact:
The British Homes Group,
2960 Vineland Road,
Kissimmee, Florida, 34746,
USA

or Email: Info@BritishHomesGroup.com or visit their website at www.BritishHomesGroup.com for more information.

Florida Advisory Panel