Self Cert Mortgages, Bad Credit – Property Bargains
It sounds almost too good to be true. You’ve spent years being out-priced of the UK property market, struggling to find a home you can afford, when your world is turned upside down and you become the proud owner of a three-storey luxury home. The American Dream has become something of a nightmare for many Americans as the value of their homes plummeted and many faced repossession. However, the dollar crisis and housing market slump is a double edged sword – for UK property buyers, it’s a Godsend.
Self Cert Mortgages, Bad Credit Record? You can afford it
According to a feature in the Sunday broadsheet, the Observer, British buyers of all backgrounds are leaping onto the American property ladder. Even if you have a self cert mortgage or bad credit mortgage, if you can afford it, there are some fantastic bargains to be had. Reports suggest that the Brits are snapping up holiday homes in popular destinations such as Florida, buying shops and businesses as investments to live their own American dream, or up-rooting from the UK altogether and moving to the States for a more affordable, better quality life. 12% of buyers in America are currently British who are targeting cosmopolitan hotspots like Manhattan.
The American Way
The Observer highlighted a few case studies of Brits who had profited from the American crisis. In the UK many of these house hunters may have been out-priced of the property market, or been unable to find affordable self cert mortgages or bad credit mortgages thanks to the over-inflated prices. But in America, it’s possible to find cheap homes. Maria Crotty was one of the home buyers profiled. The 39-year-old had a small flat in London which she sold; as the American dollar dropped further and the housing market plummeted she saw her golden opportunity. She now owns a four-bedroom house near the Hamptons where the rich and famous holiday which she uses at weekends, while renting an apartment in Manhattan during the week. “It beats north London. I now have my own land with trees and deer. My old home back in London was an ex-council flat,” she told the Observer.
Prosper Home Loans have the experience and expertise to obtain the best mortgage to suit your individual financial situation. Whether you are planning your first purchase, moving home, thinking about remortgage or debt consolidation, buying a second home, or perhaps considering a commercial venture, let Prosper help. Prosper has extensive experience in working with specialist self cert mortgage lenders, so if you’re looking for self cert mortgages or bad credit mortgages, email your query to: enquiry@prosperhomeloans.co.uk or telephone: 01424 712333 and find out how Prosper can help you.