Recent research showed the strong performance of sterling against other currencies has sparked an increase in the number of Brits purchasing property abroad.
The latest Mortgage Solutions People’s Poll asked brokers how they would be able to deal with a client looking to purchase a home in another country.
Just 5% of respondents said they had the ability to arrange a foreign mortgage themselves while 38% said they had some relationship with a specialist overseas mortgage firm allowing the firm to pass on the lead.
However, more than half of voters in the poll (57%) said they would not be able to arrange an overseas mortgage at all.
Research from overseas mortgage specialist Conti found the number of enquiries about foreign property it received in the second quarter of this year was up 38% on the same period in 2013.
In the first half of 2014 enquiries were up 58% compared with H1 last year.
Spain continues to be the top choice for overseas buyers, accounting for 59% of all enquiries in the second quarter. France, in second place, represents 27% of enquiries, followed by Portugal with 8%.
