With the pound strengthening against the dollar and a bottoming out of house prices, is it time to start buying in Florida again?

Up until now the lack of mortgage finance for foreign nationals was a problem.

Finally we had some good news this week regarding a lender that will lend to foreign nationals wanting to buy in short term rental zones in Florida.

Typically this had been an area of lending that had ceased following the credit crunch. However through an exclusive scheme with one of our business partners there, we are now able to offer mortgages in the short term rental zone and for the rest of Florida and the US.

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Regards


Kevin Macadam
Overseas Mortgage Broker
kevin@overseasmortgagebroker.co.uk
Tel 07802 724223
Fax 01482 642992
Skype name kmacadam
Head Office: 8 Station Road, Hessle, East Yorkshire, HU13 0BB
Overseas Mortgage Broker

You should be aware that foreign mortgages do not fall within the regulatory responsibilities of the Financial Services Authority (FSA). This means that if you choose to take up a foreign mortgage you will not have the means of redress offered by regulated mortgage contracts in the event that you have a complaint.

Think carefully before securing other debts against your home. your home may be repossessed if you do not keep up repayments on your mortgage. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage.
The sterling equivalent of your liability under a foreign currency mortgage may be increased by exchange rate movements.

Hi Kevin
I am a practising IFA in UK but split my time between UK and Florida. I am often over there and am a US qualified mortgage broker. I have four lenders that will lend in short term rental zones and it looks like another may rejoin soon too. My email is usa@jbemortgages.com and tel numbers are US: 407 953 9034 and UK 07768 650 659. Re your question about timing, the next 12 months is the opportunity, sales activity is currently 40% up on this time last year and inventory stock has been going down for six months, repos are well down and I have taken in around 5x as many enquiries in the last 2 months than I have in the previous 6 months! The pound gaining strength again also helps. if you email me I can email you a publication that I get each month which has masses of stats that show that the market has bottomed. Incidentally I can also get mortgages in other areas of the US and the Caribbean.

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John Brock-Edgar
US Equus inc
US & UK Mortgage broker
Orlando
Florida
usa@jbemortgages.com
US: 407 953 9034
UK: 07768 650 659

I think this is a personal question and only buyers will know if it is their time to buy or not in Florida, with finance or not. It is down to people and their preferences.

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