Forrester Cohen – which has offices in the UK and Australia – will give Paradigm members and clients advice on securing Australian property along with an ongoing portfolio management service.
The exclusive deal will include training and support material focused on arranging finance, tenant sourcing and property management. Members will receive an average commission of £5,000 for each property purchase.
John Coffield, head of Paradigm Mortgage Services, said the Australian property market
had a number of advantages which made it attractive for buy-to-let investors.
He explained: “There is a current housing stock shortage in Australia, a high demand for long-term rental property and long term capital growth. In contrast, the UK buy-to-let market is suffering with access to mortgage funding at an all-time low with investors unable to add to their portfolios.”
However, Matthew Weston, consultant at Weston International Mortgage Consultants, said he doubted the proposition would entice many members due to the distance involved.
He added: “Australia is not a particularly popular place to invest in because of the distance. It will be extremely difficult for people to do the correct due diligence and research on properties. Investing in overseas properties is also one of the last things on people’s minds.”
Michael Brill, director of Baronworth Investment Services, said that Australian buy-to-let investment sounded like an exciting opportunity but uptake would be low because of a lack of control.
He concluded: “It is good that the service is there but I think most people now realise that buying a property where you cannot have a hands-on approach is risky.”
