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UK and European Residents Buy Florida Real Estate

Are you a European resident wanting to purchase a vacation property in Florida; but, thought that the paperwork would be too overwhelming?

Having just completed the funding for a client in London to purchase a vacation home in Orlando, Florida, you may now be assured that it’s an easy process provided the credit history is posted in advance.
Most all real estate mortgage programs that are available to U.S. Citizens are also available to foreign nationals and resident/non-resident aliens.

The process which normally takes about 6 weeks to finalize can be shortened if European investor will obtain his/her own credit report.  The report is accessed by logging in at: www.econsumer.equifax.co.uk  paying about 12 to 14 pounds sterling and then forwarding it to the mortgage officer in the U.S. for posting to an international credit report.

This step will avoid the delay of having to go to each creditor separately with letters asking for credit history.
It’s important that a prospective borrower has (3) trade lines of credit and that at least one of the three has been open for 24 months.
If that is not the case and a person has assets but little or no verifiable credit, Fifth 3rd Bank will still do the mortgage but it will be about 1% higher in interest rate than if the active credit is verified.
There are delightful properties available to European investors all over the sunny coasts of Florida. Orlando has some true bargains and is a city with Disney and many other attractions.
Since I now know the fastest and most inexpensive way to conduct this I will pass the time I save in processing on to my clients so they can save a few more $$.

Related:
Foreign Investors Seeking a Real Estate Investment Loan

By Jim Jump To Comments
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2 Responses to "UK and European Residents Buy Florida Real Estate"

    Pam Thompson says:

    The Thompson Team is in Polk County, Central Florida,  (Haines City, Lake Wales, Davenport, Winter Haven, Dundee, Frostproof, and Auburndale) which is the lowest cost index in the entire State of Florida!  You will see why Polk County is so highly desired as we point out the facts that in Polk County, you can acquire the same home for a lot less money as well as lower lot rent including more amenities, and lower insurance rates due to the fact that our location is centrally inland and do not have the high hurricane insurance rates that other Counties do.  The Thompson Team specializes in Florida Manufactured Homes, Mobile Homes in Senior, 55+, Snowbird, Retirement, Gated, and Family Communities on leased land within 5 to 30 minutes of Walt Disney World and the many other Orlando attractions, as well as Cypress Gardens,  sporting events, major airports, Florida’s famous Atlantic beaches, Gulf coast, golfing and so many other activities in just no time at all!  Whether you are looking for a Senior, 55+, Snowbird, Retirement, or Family Community, there are 200+  Manufactured Home, Mobile Home Communities in the Polk County area we proudly service.  If you plan to occupy residency in a 55+ Community, Florida law does require that at least one resident be 55 years of age or older.  If you are not 55 yet don’t fret!  We are pleased to inform you that in 20% of the homes the resident can be under the age of 55 so long as the minimum age of the Community is met.  The Communities in the developments we service have a variety of amenities to offer ranging from the simplest with just a clubhouse and pool… to a premier five-star golf,tennis,fishing, and boating Community.  Central Florida is home to 554 lakes and you’ll be on the right course as within a 50-mile radius, you’ll find more than 60 golf courses and 500 holes of public, semi-private and private golf courses not to mention our fabulous tropical climate.  View our article, About Central Florida Polk County and Orlando Attractions for area information and things to do in the Central Florida Communties we proudly serve.  START LIVING YOUR HAPPILY EVER AFTER JUST 10 to 30 MINUTES FROM WALT DISNEY WORLD IN FLORIDA!  IF YOU CAN DREAM IT, WE CAN MAKE IT A REALITY!

    Reply

    Posted on 09/06 at 2:32 PM
    Toronto says:

    Florida’s real estate tax laws can be tricky to understand. There are several factors which affect the size of your property tax bill, so if you’re buying property in Florida or are relocating, it’s important to understand how taxes are calculated.Property values are in constant flux just as the real estate market is, so getting an accurate, current assessment is important. The assessed value of the property you buy may change dramatically when it changes hands, so it’s good to be aware of the factors that might influence how much tax you pay.As well as market rates your real estate tax bill will also depend on the tax rate for different local government bodies. The property you buy will be subject to taxes from several different bodies, including county and city government, the school board, hospital district, and water district. There may be additional taxes if you live in a masterplanned community.On the other side of the coin, homestead exemptions and the ‘Save our Homes’ amendment help limit the amount of your property tax bill.

    Reply

    Posted on 01/17 at 1:45 AM

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