Mortgages for
Overseas Home Buyers Still Available in Florida Wednesday
October 17, 10:00 am ET
Despite the announcement by British Mortgages Abroad (A GE
Company) that they will no longer accept applications, it is still possible for overseas
homebuyers to obtain a mortgage on Florida Property
BOCA RATON, Fla., Oct. 17 /PRNewswire/ -- LynxBanc (http://www.lynxbanc.com)
today announced that it will continue to offer mortgages through its key lending partners
to Foreign National home buyers in Florida.
"Florida has the highest share of real
estate buyers from overseas of any state, 15 per cent on average with a large percentage
of these coming from the UK and Ireland. With continuing disruption in the mortgage market
both in the USA and the UK, we felt it important for overseas buyers to know that they can
still obtain mortgages on Florida properties at competitive rates with sensible down
payments," said Stephen Parnell, Chairman of LynxBanc.
Overseas buyers of Florida homes have recently
seen some of the lowest purchase prices for years with some markets now selling, at least
in UK Pound terms, at an almost 40% reduction of their height-of-the-market prices. The
real concern has now become the availability to finance the home with a mortgage. While
some banks have pulled out or tightened the criteria of these foreign national mortgages,
they are still available from experienced mortgage providers based in the local Florida
markets.
About LynxBanc
LynxBanc is staffed by an experienced team who
has worked with overseas buyers for many years. Based in Boca Raton, they serve clients
throughout Florida and provide a full range of international and domestic mortgage
facilities. For more information email: info@lynxbanc.com
All product and company names herein may be
trademarks of their respective owners.
One out of Three Florida Homeowners has no Idea What Kind of Mortgage
They Have Wednesday August 22, 10:00 am ET
Florida based mortgage provider announces plans to offer an innovative
Equity Review process to protect homeowners from their own mortgage meltdown.
BOCA RATON, Fla., Aug. 22 /PRNewswire/ -- LynxBanc (http://www.lynxbanc.com) today announced plans to begin
offering a new Equity Review process designed to determine what decisions Florida
homeowners need to take now to protect themselves from further mortgage market fallout.
LynxBanc will be using an industry leading software program to facilitate these Equity
Reviews known as The Mortgage Coach®. This software will provide a consumer friendly and
detailed analysis of recast periods, likely rate increases, payment shock and suitability
for alternative mortgage programs thereby allowing homeowners to preempt potentially
devastating changes to their budget.
"It is predicted that over 2 million homeowners will lose their homes to sudden,
unexpected and devastating increases in their mortgage payments, it's imperative Florida
homeowners know exactly what kind of loan they have, and even more importantly, when and
if the loan will recast and go up," said Stephen Parnell, Chairman of LynxBanc
Mortgage Corporation.
About LynxBanc
A team with over 50 years combined experience in the mortgage industry staffs LynxBanc.
Based in Boca Raton, they serve clients throughout Florida and provide a full range of
mortgage facilities. For more information email: info@lynxbanc.com
or call 561-392-8044
All product and company names herein may be trademarks of their respective owners.
Contact information
Stephen Parnell
LynxBanc Mortgage Corporation
561.392.8044
info@lynxbanc.com
Financial News
Press Release
Source: LynxBanc Mortgage Corporation
Sponsorship Deal Set to Increase British-American Business in South
Florida Wednesday February 21, 10:00 am ET
LynxBanc Mortgage Corporation to Become a Major Sponsor of the British
American Business Council in Palm Beach and the Treasure Coast
BOCA RATON, Fla., Feb. 21 /PRNewswire/ -- LynxBanc (http://www.lynxbanc.com) today announced that it has
become a major sponsor of trade between Florida and the United Kingdom by supporting the
British- American Business Council with its efforts to promote business between South
Florida companies and the UK.
"While our major focus is residential real estate mortgage finance, we feel that
increased transatlantic trade between the UK and South Florida will be of benefit to all
members of the BABC and as such it is our pleasure to become sponsors and Trustee members
of this important organization," said Stephen Parnell CEO of LynxBanc.
"We are very grateful to Steve Parnell and LynxBanc for stepping up and assisting
us in our endeavor to bring the BABC to the Palm Beaches by sponsoring our website (www.babcpalmbeach.org). The website will play a
key role in our development and is important for the dissemination of information to our
members and all businesses interested in transatlantic trade in South Florida," said
Michael Towner, President of BABC Palm Beach.
About LynxBanc
A team with over 50 years combined experience in the mortgage, Real Estate and
Financial Services industries staffs LynxBanc. Based in Boca Raton, they serve clients
throughout Florida and provide a full range of international and domestic mortgage
facilities. For more information email: info@lynxbanc.com
About The British-American Business Council
The British-American Business Council, Palm Beach and the Treasure Coast, is a
nonprofit business association of companies and individuals undertaking, associated with,
or supporting trade and investment locally between Palm Beach County and the Treasure
Coast with the United Kingdom. It offers unique benefits and opportunities to its member
companies in addition to those offered by the BABC (www.babc.org).
For more information, contact Michael Towner at 561.981.8229 or on the web at www.BABCPalmBeach.org
All product and company names herein may be trademarks of their respective owners.
Contact information
Stephen Parnell
LynxBanc Mortgage Corporation
561.392.8044
info@lynxbanc.com
Source: LynxBanc Mortgage Corporation
Press Release
Source: LynxBanc Mortgage Corporation
South Florida
Mortgage Company to Arrange Multi-Currency Mortgages for International Home Buyers with
Lloyds TSB Bank Thursday
August 10, 10:00 am ET
LynxBanc Mortgage Corporation to Offer
International Home Buyers the Opportunity to Finance their Florida Home Purchase in US
Dollars, UKSterling and, for Eligible Borrowers, Other Currencies Such as Euros
BOCA RATON, Fla., Aug. 10 /PRNewswire/ -- LynxBanc (
http://www.lynxbanc.com ) today announced that it is
able to arrange multi- currency mortgage facilities for international home buyers in South
Florida with Lloyds TSB Bank, one of the UK's largest banks.
This new mortgage facility will appeal
to Florida's foreign national homebuyers by providing an alternative to financing in US
Dollars. With many of Florida's overseas home purchasers earning in currencies other than
Dollars, they can now align their borrowing to their home currency, potentially reducing
their need to buy and sell Dollars to service their mortgage.
"Florida has the highest share of
real estate buyers from overseas of any state, 15 per cent on average. This new mortgage
facility offers the overseas buyer the opportunity to switch between eligible
international currencies easily and inexpensively up to four times a year," said
Stephen Parnell, CEO of LynxBanc.
About LynxBanc
With over 50 years combined experience
in the international mortgage market, LynxBanc, based in Boca Raton, serves clients
throughout Florida and provides a full range of international and domestic mortgage
facilities. For more information contact the Boca Raton mortgage office: 561 392 8044 or
by email: info@lynxbanc.com
About Lloyds TSB
The Expatriate Banking division of
Lloyds TSB Offshore, a wholly owned subsidiary of Lloyds TSB Group plc, provides
international personal banking services to approximately 60,000 customers worldwide,
providing USD, GBP and EUR currency accounts. 24/7 relationship management support is
provided from centers in the Channel Islands and Isle of Man, supplemented by
representative offices in a number of locations worldwide including Miami FL. For more
information contact the Miami office: 305 347 7140 or by email: ggoosen@lloydstsb-usa.com
All product and company names herein
may be trademarks of their respective owners.
LynxBanc Becomes South Florida's Only Upfront Mortgage Broker(TM)
Local Mortgage Provider Becomes The Only Upfront Mortgage Broker(TM) in South
Florida Providing Full Disclosure of Fees Before They Are Required by Current
Legislation
POMPANO BEACH, Fla., Jan. 16 /PRNewswire/ -- LynxBanc (http://www.lynxbanc.com)
today announced that it would subscribe to a self-enforcing code of ethics
known as the "Upfront Mortgage Broker"(TM) (UMB) to facilitate borrowers in
distinguishing between ethical and rogue mortgage brokers in South Florida.
The Upfront Mortgage Broker(TM) is the brainchild of Professor Jack Guttentag,
Professor of Finance Emeritus at the Wharton School of the University of
Pennsylvania.
Here's how they work. While UMB customers pay a disclosed broker's fee
and the disclosed wholesale loan price, conventional mortgage brokers (MBs)
add a markup to the wholesale prices, and quote only the resulting "retail
prices" to customers. Their fee is the markup, plus any payments that they
receive from lenders. Most MBs don't reveal their fees until required by law
-- after an application has been submitted. Because of the way they price
their services, the UMBs interests are fully aligned with those of customers.
In contrast, MBs are often in a conflict situation with customers. Since the
UMB's fee is stipulated in advance, customers are automatically credited with
any rebates received from lenders that would increase the UMB's fee beyond
what was agreed upon. MBs may or may not credit customers for such rebates.
"We believe that the home buying public has been waiting for clarification and
true disclosure from mortgage brokers for sometime, now they (the mortgage
applicant) will have a complete un-biased view of the whole process" said
Stephen Parnell, VP of LynxBanc. For further information please call or email
LynxBanc at 954-957-8481 or info@lynxbanc.com.
About LynxBanc
LynxBanc is staffed by a team with over 30 years combined experience in
the mortgage business. Based in Pompano Beach, they serve clients throughout
the tri-county area and provide a full service mortgage operation. In
addition to domestic service, multi-lingual loan counselors are available to
assist clients from all areas of Europe and South America with their home
financing needs. For more information email: info@lynxbanc.com.
About The Professor
He is Jack M. Guttentag, now Professor of Finance Emeritus, formerly Jacob
Safra Professor of International Banking, at the Wharton School of the
University of Pennsylvania. Earlier, he was Chief of the Domestic Research
Division of the Federal Reserve Bank of New York, on the senior staff of the
National Bureau of Economic Research, and managing editor of both the Journal
of Finance (1974-77) and the Housing Finance Review (1983-89). For more
information visit: http://www.mtgprofessor.com.
