Florida Real Estate, Tourism and Immigration News

Do you have a BMA loan on your Florida Property?

The US dollar, as you probably know, has rapidly risen to a 6-year high against the pound – from $1.80 – $2.00 a few short weeks ago to the low $1.60′s at time of this email.

If you currently have a Sterling mortgage on your Florida home this could be an ideal time to re-finance it into dollars – and potentially reduce your Florida mortgage amount by 10-15%.

The mother of Lee Weaver, our Director of Operations, recently refinanced her UK mortgage, for example, and reduced the outstanding loan on her Florida villa by over $22,000.

from Mrs. Weaver’s note…

Thank you Chris and BHG for looking after my Florida interests all of these years and letting me know that it was a good time to consider changing the mortgage on my Florida home from pounds to dollars. I was fortunate with my home value to be able to include most of the costs in the process and still reduce my original US loan balance by just over $22,000.

A $200,000 mortgage taken out at $1.95 would reduce to $169,231 when converted back at $1.65. That’s over a $30,000 principal reduction.

To see if the time and circumstances are right for you, please give us call, or complete the short form by clicking the link below, for an evaluation of your current mortgage position and refinance options – as always, without obligation or cost.

This window of opportunity may be short and we are expecting a lot of inquiries so please provide as much information on the form as you can

http://www.britishhomesgroup.com/refinance-your-sterling-loan.php#refinance

Sincerely,

Christine Doran
General Manager
www.BritishHomesGroup.com

Maybe it is a Florida home you are after? Or Florida mortgage? We can assist with both! We have a dedicated team of Real Estate professionals waiting to serve you and find you that perfect Florida home of your dreams. Maybe you have been fed up by the rained out British Summer this year? Or have seen the gorgeous property for sale on A Place in the Sun or Real Estate TV? – Which we have been featured on!

What ever your reason, Florida is a fantastic place to invest, with a high quality of life coupled with cheap property, gorgeous weather and the cheapest dollar in over a quarter of a century it really is the place to be!

However… you ask.. how can I afford it? Well, our team of Mortgage Brokers cajn look at the options right for you, whether what we are most famous for, the British Sterling mortgage (where your repayments are in pounds) or a US Dollar mortgage or even a Multi-Currency Mortgage they can look at what is right for you and quote you on the product you like best all at no obligation.

Wait! The system is unlike the Uk in that Realtor’s (Estate Agents as they are called in the UK) here have access to all the properties in the area, so it saves you doing the leg work and takes out the need to shop around and if you chose one of our agents to look for property for you they are acting in your interest! Similarly, with the finance side our brokers are experienced in a range of products and have a choice of lenders to look for products, again taking out the need to shop around and allowing you to concentrate on the more important things in life…like what day to go to Disney or the beach!

Florida property still popular with Brits looking for that dream home or investment! GE Money Home Lending, based in the UK, has seen a 100% increase in business to date in 2007, based upon the same period in 2006.

• GE Money Home Lending sees Florida sales double year-on-year as UK buyers remain focused on the Florida market
• Investors surge into the market place as the pound recently reached a 26-year high against the dollar
• Current UK investors urged to looks at the long-term investment of their properties and advised against selling in the current market place

Many property investors looking towards buying a home in Florida have been warned off the market place in recent months. However, when looking at the Florida market place, it still gave a solid performance last year with house price inflation sitting at 9.5%.

Coupled with a fantastic Sterling Vs. Dollar rate which is the highest in over a quarter of a century, it makes Florida very attractive indeed!

GE Money Home Lending offers UK citizens the opportunity to secure a sterling mortgage on a property in Florida, enabling many to secure their holiday home or investment property – based upon the Bank of England base rate and a system which they are familiar with.

Read the full press release on British Homes Group’s main website

Relief all around as the Monetary Policy Committee held the base rate at 5.5%. However this relief is still short lived, the UK is still suffering from high levels of inflation, which are way off Target 2.0 levels, the UK still has a runaway housing market which, although is suffering in the wake of the HIP’s chaos is still going up. So this relief is most likely temporary and it is expected that there may be a further couple of rate rises before the end of the year.

This is good news for Florida property if you are considering a sterling mortgage. Which is still very attractive with the exchange rate as it is! Our range of Sterling Mortgages from BMA track the Bank of England base rate. There are currently three fixed rate products available from BMA so now really is the time to get one to future proof your mortgage against the possible rate rises on the horizon. Contact Us today.