Since its arrival in Canada last December, Lloyds TSB has seen growing customer interest in the International Mortgage Service according to Luke Stuart, the business development manager in the company's Toronto representative office.
"The International Mortgage Service has been extremely popular, especially during the economic downfall," says Stuart, who adds Lloyds TSB has been working closely with mortgage professionals across Canada. "Property values have fallen, creating an attractive market and allowing individuals to purchase at lower buying costs."
The International Mortgage Service offers Canadian residents the option to purchase or remortgage a holiday home, buy-to-rent or buy an investment property in 11 countries, including the UK, Canada and selected locations in the US. While payments are available in 10 different currencies, the currency selected must be the same as the applicant's main income or the local currency of the property location.
Interest-only payments are an option for most international mortgages and Lloyds TSB also offers an international banking service for customers to set up their mortgage payments. The company's Canadian representative offices are located in Toronto and Vancouver.