A Florida Mortgage for UK Nationals
Investing in character in Florida has become a very hot topic amongst UK nationals. Spurred on by value pricing, strong inventory & rental growth in Florida, along with popular money exchange rates, investors from the UK are realizing sizable gains with little or no up front investment. As of this writing, 1 Pound Sterling is worth very nearly 2 American Dollars, over 20% more than historical averages. This method a chief, US $500,000 beachfront character which would have cost GBP £320,000 just a few years ago can be had today for just £250,000. What makes this already more attractive is that today, unlike years past, US Dollar denominated mortgages are obtainable to UK nationals with minimum payments as low as 1%, allowing UK borrowers to take advantage of deferred interest and positively geared cash flow against rental income. These mortgages can be had with almost no documentation of income, employment or assets, ushering in a new expansion in Florida character ownership.
Florida has long been a popular investment destination for borrowers from the UK, Europe, and Latin America. The year round warm climate, thousands of miles of beachfront, and extensive attractions make it a popular investment and holiday destination, and is comparatively inexpensive. Florida also has several major attractions, such as Walt Disney World and Universal Studios in Orlando, in addition as bona fide international destinations like Miami Beach. While UK investors have traditionally favoured the Atlantic Coast of Florida, rapid development in Central and Gulf Coast regions, in cities like Tampa and Ocala, is attracting an increasing number of Britons each year.
Due to a large amount of newly built inventory throughout the state, character prices are very reasonable, especially when one considers value for money. The exchange rate enhances the value already further. Today, already £100,000 can buy a 2 bedroom luxury condo, with swimming pool and clubhouse, in a premium beach town. £200,000 is enough for a rather impressive spread in many holiday destinations in Florida. Because of the large number of attractions and the year-round warmth, Florida, known as the “Sunshine State”, enjoys strong need for holiday rentals every month of the year. And unlike Dubai, which is considered by many to be at the very top of its market, Florida character values are just rebounding off of 24 month lows and showing strong upward momentum. Buying at the market’s current point of inflection promises that rental income will be joined by strong appreciation of the inner character, which when taken together with an eventual rebalancing of the Sterling to Dollar exchange rate over time, bodes quite well for the Return on Investment.
You’ve likely already heard much of the reasoning behind investing in the Florida character market, either from friends who’ve already made the move or from the increasing number of character brokers specializing in marketing these similarities, however you may be asking yourself, “How can I finance this venture?” This is where exploring the growing number of mortgage loan options obtainable to foreign nationals in the US can pay off. While character brokers in the UK often purport to offer financing to their customers, it is rarely the best option obtainable. Before purchasing a character anywhere in the USA, buyers would be well served to consult a foreign mortgage specialist located in the US, to take advantage of the same, rather amazing deferred interest only mortgage programs once obtainable only to American nationals. It is now possible for UK nationals to avail of these amazing financing options to buy character in the US with no upfront investment, with no verification of employment or income, and with a minimum payment as low as 1%.