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Brokers looking for overseas business reaches new high

by: Mortgage Solutions
  • 17/01/2012
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Foreign mortgage specialist Conti, reports registrations of 70 mortgage brokers a month since last summer, taking total client bank to 8,000.

Conti said the downturn in the UK there is a healthy appetite from overseas institutions to lend to foreign investors.

The distributor also claims historically low interest rates and bargain property prices are making it more affordable to buy a property abroad.

Clare Nessling, director at Conti, said: “If brokers haven’t yet considered the overseas mortgage market as a source of additional income, it’s a great time to do so.

“There are plenty of British buyers taking advantage of the property bargains available abroad, and they’re more willing to explore overseas opportunities in their search for better potential returns on investment than they’re achieving in the UK.“

Mortgage Brain’s overseas sourcing module, launched in partnership with Conti, allows brokers to process enquiries and applications for overseas mortgages in the same way as a UK mortgage.

Commission rates start at 25% per case, but higher levels can be achieved when volume increases or through membership of a qualifying group or network.

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