Applying for your mortgage

The process of buying a holiday home in Florida is not the same as in Britain, so you won't be surprised that the process of funding the property purchase with a British mortgage is a bit different too.

Much of it, though, is recognisable to anyone who has bought property in Britain before. And at every step of the way, we aim to make buying your Florida property as clear and simple as possible.

Our mortgages are granted through specialist mortgage intermediaries who are licensed mortgage brokers in Florida. They are also available through select intermediaries based in Britain. Your chosen intermediary will work closely with you, and advise you, throughout your application and purchase process.

Next Steps

When you have found the vacation property you want to buy we'll provide an instant decision in principle.

On acceptance, your intermediary will assist you in completing the mortgage application form, which will then be sent to The Lender in Britain for processing.

What happens next

• An agreement in principal is issued to you by the lender.
• Statutory disclosures will be sent to you, such as the Truth-in-Lending Act Disclosure statement which allows you to see the terms of the loan in a standard format, thus making comparisons easier. We will also supply you with a Good Faith Estimate of settlement costs, which estimates all the likely charges.
• A valuation report (known in the US as an Appraisal Report) and Flood Certificate are requested on your proposed Florida holiday home.
• A Title Company is instructed to ensure that there is no difficulty with the title of the property you are buying. If satisfied with their enquiries, the Title Company will issue a title commitment that everything is in order and this will be sent to us.
• We will then issue you with a formal mortgage offer (known in the US as a 'commitment letter').
• Documentation including a Department of Housing and Urban Development settlement statement (HUD-1) and the Mortgage and Promissory Note together with remaining documents are sent to you in Britain.
• The mortgage will be signed by you and notarised (witnessed by a notary) and sent to the Title Company for formal registration at the appropriate registration office in Florida. The Promissory note, once signed by you should be sent to us.
• The advance is then sent to the closing agent to complete the purchase of your home in Florida.

Click here to view FAQ