SUBSCRIBERS

Brits get Disney fix as US banks lend to foreigners

Overseas buyers snap up US homes with foreign- national mortgages

Published Wed, Sep 24, 2014 · 04:00 PM
Share this article.

[WASHINGTON] Adele and Mark Lee, who live in England with their three children, said they got approved for a US mortgage without setting foot on American soil. The vacation home they're buying near Florida's Disney World would have been out of reach if they had to pay all cash.

"It would have been a stretch," said Adele, a 35-year- old nursery school teacher, speaking from the family's home near Birmingham. "We wanted to keep some money here just to fall back on."

The Lees are using a foreign- national mortgage, a loan for ov…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Property

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here