Despite The Gloom British Home Loans Florida Thrives

The BRITISH HOMES GROUP Florida report a mini boom in Florida mortgages for British buyers.


Chennai, India -- (ReleaseWire) -- 10/25/2007 -- The BRITISH HOMES GROUP Florida report a mini boom in Florida mortgages for British buyers. The organization which is British staffed and based in Florida specialise in assisting UK residents with their Florida vacation home, timeshare and mortgage enquiries. They work with companies such as Disney, Marriott and Sheraton in Orlando and launched the first British Mortgages Abroad program in 2001.

Lee Weaver, Director of Operation “Now is the perfect time to buy”, notes Weaver, “with property values dipping and the pound continuing to trade at a 26-year high against the dollar, a strong buyers market has emerged once again for British investors in the ‘Sunshine State’ - especially when combined with highly motivated builders and individual sellers.

“This is a very busy time for our company”, said Weaver. “Sales enquiries are reaching the record numbers of three years ago, the only difference being, there is now inventory available to meet that demand”.

This increase in businesses is despite a surprise announcement by GE Money advising US brokers by email that its company British Mortgages Abroad would not accept any mortgage applications

GE Money’s Duncan Berry said in his email announcement that after an internal review of BMA operations, they had decided to focus their efforts on their UK lending business. “Existing customers and customers in progress will not be impacted and BMA will continue to service their accounts”

The Florida market could be helped by realtors selling to an international audience a strong pound and against the US Dollar and cheaper US house prices means Florida property is now a real bargain.

Competition is heating up between the US banks and the added benefit of a British based multi currency loan (which can be repaid in pounds, dollars or euros), British investors in Florida now have a range of options to choose from.

British Home Groups introduced the first multi-currency mortgage in association with Lloyds TSB in 2006. They offer sound pre-application advice, solid customer service up to and beyond 'closing' and continue to develop their mortgage product knowledge for British investors in Florida.