GEMHL enhances British Mortgage Abroad range

GE Money Home Lending has enhanced its British Mortgages Abroad product range to include the option to buy a second holiday home.

The product range also offers a 0.26% rate reduction in its reversionary rates following the expiry of any fixed rate, a rate reduction on its three-year fixed product to 6.79%, and introduces a two-year fixed product with a rate of 6.29%.

GEMHL’s terms for the purchase of a second home allow customers to buy the additional home using the same product range that customers use for their first purchase.

Key features include maximum LTV of 65% and loans available on purchase prices between £35,000 and £300,000.

Duncan Berry, director of mortgage sales at GE Money Home Lending, says: ”Since we launched BMA five years ago we have helped thousands of customers realise their dream and buy a holiday home in Florida.

“Some are now well established and want to purchase a further home there and this move will allow them to do this.

“And with a product range offering more comprehensive short-term product offering and price reductions on it popular three-year fixed rate, now is the time to look to GEMHL to help you fulfil your Florida dream.”