Bank of England Cuts Rates!: This very welcome news to UK homeowners has a knock on effect to Florida in many ways: UK Buyers have more disposable income, UK Buyers can take advantage of our Multi-Currency mortgage – which when the loan is in pounds sterling, tracks the Bank of England Base Rate and a rate cut is aimed at boosting the economy! A boost in the economy in the long term means an advantageous exchange rate for British Buyers looking to buy property in Dollars!
Florida property is a fantastic investment opportunity at the moment, the the exchange rate over $2 to £1 and low prices it is a great time to buy.
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After the headline grabbing news only weeks ago about the pound breaking the $2 mark and remaining there for a length of time the rally has started again, although a little quieter this time.
Experts therefore pose the question, can the pound remain at this level long term?
The answer is a difficult one, the mood is uncertain and with a lack of US data makes it hard to say. The sterling did not make headway nor retreat at the opening of markets on Monday. However with an expected Bank of England Rate Increase next month it could mean a gain for the sterling. Only time will tell.
The difficulty is to know what to do. Do you wait? Or do you buy dollars at around $2 to the pound? It depends on your perspective, however with Florida property prices suffering from a buyers market and the current exchange rate it makes it very attractive for UK buyers to invest in property in the state!
None of the information contained in this blog/blog post constitutes, nor should be construed as Financial Advice.
The article discusses how the weak dollar against the strong pound coupled with a great buyers market in the state make it a great place to invest, providing you are careful.
The article details many areas from Daytona Beach to Miami Beach where your pound will give you more bucks and the market will bake that buck go further. The top end of the market doesn’t seem to be suffering as the article states that the super luxury homes are popular with Wall Street’s finest as their bonuses allow them to afford such property.
The overall article talks about the different areas which one could buy in the states and take advantage of the current situation and details comments from one Brit owner (Martin Harwood – who bought in Tuscana in Champions Gate) who said “As a family with children, it’s a much better choice than Spain. The all-year weather, countless attractions and shops keep you occupied and we believe the long-term investment potential is still good.”