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