Intermediary clients look to invest in US
Intermediaries with UK and international clients are looking to invest more into US property, reports Connect Overseas.
The international mortgage advisers said US property finance was now making up over a fifth of the requests for assistance, just behind those for Spanish property.
Liz Syms, managing director of Connect Overseas, said that she believed that there were a number of factors currently fuelling investor interest in America.
She said: “The US property market has undergone a renaissance in interest as investors have moved in to take advantage of depressed property prices arising from the distressed state of the market caused by the financial downturn.
“Rental yields are running into double digits and with a recent report from Goldman Sachs suggesting the market in the US is likely to rally in the second half of 2012, it is not surprising that investors are seeing the opportunity to invest now.”
Syms added that in order to access property finance deals from US banks, advisers needed to be an authorised mortgage adviser in that particular state.
She said: “It is these key relationships and contacts that Connect Overseas has built up which directly benefit intermediaries and their clients with whom we work.
“Currently we can source variable mortgage rates from 3.69% and fixed rates from 4% up to 75% loan to value and we back up these great mortgage deals by offering a full and comprehensive service to our intermediaries and their clients.”
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