Investment Mortgages – The American Dream

The credit crisis in the States looks like its getting worse. But where there’s a crisis, there’s room for opportunity – and experts are saying buyers just need to work out when the property prices will stop falling and where the hot spots are. Investment mortgages can help developers and investors move swiftly – when it comes to bagging the best prices, timing is everything.

 

Investment mortgages – the Perfect Storm

 

Why America? Because the sub prime crisis that initially hit the very poor and the trailer parks is now spreading to the middle classes and the wealthy. As they get caught up in rumours of a recession, property prices are plummeting sharply as foreclosures or repossessions rise. This is terrible news for the victims of the crunch, but offers some rich pickings for buyers with investment mortgages secured and in place. Additionally, investment mortgages obtained in the UK for American properties have the added bonus of a strong exchange rate – sometimes reaching two dollars to a pound. The Times newspaper recently ran an investigation suggesting that as America faces a downturn, now is a good time to buy and invest. The Times quoted Sean Conolon, a billion-dollar businessman in Chicago, who told a conference that:

“The current downturn and repricing going on in the American economy is providing potentially the biggest real-estate buying opportunity I have seen in 20 years…It is the perfect storm.”

 

Investment mortgages – look Stateside

 

Investment mortgages can help property developers looking to take advantage of the economic climate. According to the Times, the hot spots where investors are heading fast include:

 

• Chicago – skyscrapers are leading the investment boom, with the tallest residential skyscraper in the world currently being built – The Spire. Chicago is keeping its prices high, one building, Trump Tower, will feature a £4m penthouse.
• Las Vegas – It’s the land of opportunity that just grows and grows – with another six years of developable land available, Vegas offers developers with investment mortgages a winning opportunity.
• Florida – Perfect for UK developers with investment mortgages looking to tap into the tourist potential. Florida is not only perfect for tourists, but retirees and golf-enthusiasts too.
• New York property is still on par to London prices, but UK buyers with investment mortgages have the edge – thanks to the currency rates of exchange and strength of the British pound.

 

The Times also reported that the gulf coast states affected by Hurricane Katrina offer regeneration opportunities with financial incentives for overseas investors – the perfect opportunity for developers with investment mortgages at the ready.

 

Speak To Swift Property Finance about Investment Mortgages

 

Swift Property Finance are delighted to be considered specialists in the property finance field and are pleased to go that extra mile on behalf of our customers. Offering everything from bridging loans to property investment finance and expert advice from experienced brokers, Swift Property Finance is at the forefront of the industry. Offering over 15 years experience in the property field and providing an impressive list of lending sources ranging from major banks to wealthy private investors. For more information, simply call 0845 680 0609.

 

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