Multi currency home loans, from British Home Loans Florida Inc, is good news for Florida home sellers want to attract buyers from both the UK and other “Foreign National” countries
Orlando, FL -- (ReleaseWire) -- 11/05/2007 -- British Home Loans Florida Inc., the Orlando-based “Foreign National” mortgage specialists, have announced the highly successful results of a year-long market test of an innovative and timely multi-currency home loan specifically designed for Foreign National and US investor homebuyers in Florida.
British Home Loans specialises in assisting Florida builders and Realtors wishing to increase their home sales to the ever-growing “Brit” market in Florida. A recent research study by the National Association of Realtors estimates that the large and growing UK home sales in Florida now totals over $1 billion a year this is in stark contrast to the softening US domestic home sales market.
“This mortgage comes at a perfect time for Florida”, notes Lee Weaver, British Home Loans’ Director of Operations, “when many US lenders seem to be running away from the Foreign National and domestic investor markets and should come as good news for sellers and developers alike". "It's been a long year, ironing out the kinks and implementing lines of communication between here and Hong Kong" said Lee "but well worth the effort to be able to bring such a unique product to overseas and domestic investors buying property in Florida".
This distinctive and flexible mortgage, offered in collaboration with Lloyds TSB, is currently available in 9 different states and a variety of currencies, including British Pounds, Swiss Franks, Canadian Dollars, Euros, Yen and as well of course, US Dollars!
The mortgage is designed for Florida property investors and 2nd homebuyers that like the additional flexibility of being able to switch the currency of their mortgage from time to time, depending on market, personal and international currency conditions. Borrowers can easily and inexpensively switch currencies up to 4 times a year, twice for free.
The dollar is so weak right now that the British pound and Canadian dollar are at 26 and 30 year highs respectively. Strong currencies, high inventory levels, falling home prices and motivated sellers means Florida real estate is literally on sale – particularly to the International market.
“Purchase enquiries are returning to the levels of 3 or 4 years ago, only this time around we have the inventory and product lines to fulfil the demand” says Weaver.
“The only minor challenge in keeping up with our increasing requests for the multi-currency mortgage is dealing with the 12-hour time difference”. “When we want to speak with Lloyds’ Regional offices in Hong Kong, as we do almost every day we have to call them at 9 p.m. Orlando-time to catch them at the start of their work day!”
Good news indeed for Florida home sellers wanting to attract buyers from both the UK and other “Foreign National” countries as well as US investors currently finding it increasingly difficult to find financing for their second (and third) property purchases.
British Home Loans specialises in assisting Florida builders and Realtors wishing to increase their home sales to the ever-growing “Brit” market in Florida. A recent research study by the National Association of Realtors estimates that the large and growing UK home sales in Florida now totals over $1 billion a year – a stark contrast to the softening US domestic home sales market.
For more information contact Lee Weaver on 407 396 9914 or visit their website; http://www.britishhomeloansflorida.com