Conti, the overseas mortgage specialist, saw a record number of intermediaries signing up for overseas mortgages in September, with registrations up by 69% compared with the previous monthly average for this year.
Conti says that despite the difficulties of the UK property market, demand for homes overseas is alive and well, and it appears that an increasing number of people are seeking a little slice of life overseas. Enquiries from prospective buyers are also up by 33%, with France, Spain and Portugal still topping the list of hot spots. It seems that trips abroad this summer have inspired many people to buy their own place in the sun.
Bargain prices and low interest rates are making it more affordable to buy property abroad, and the growing strength of the pound against the euro is boosting the budgets of those looking to buy property in the eurozone.
If brokers haven’t yet considered the overseas mortgage market as a new source of income, it’s an excellent time to do so. Commission rates at Conti start at 25 per cent per case, but higher levels can be achieved when volume increases or through membership of a qualifying group or network.
Mortgage Brain, the multi-award winning mortgage technology solutions provider, is expanding its range of mobile technology solutions with the launch of the industry’s first iPad sourcing app for brokers.
The app is designed for use by brokers during the initial stage of the point-of-sale process and will enable them to conduct a quick and thorough whole-of-market mortgage search and selection process for their clients.
Scheduled for launch at the turn of the year, the app, which allows information on prospects to be collected as part of the advised sales process, also features a number of mortgage calculators and a new graphing and analysis tool.
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The Key, Mortgage Brain’s market leading point-of-sale, compliance and CRM system, has increased its market share of the UK intermediary mortgage market by over 35% in the past 12 months.
The award-winning system, the most widely used CRM and back office solution in the mortgage and protection markets, has continued to increase its widespread adoption and market penetration year on year since its launch in 2006, with forecasts predicting further substantial growth throughout the rest of 2012 and beyond.
A number of high profile financial services providers including Sesame, Mortgage Intelligence and Mortgage Support Network (MSN), as well as the growth of existing users and host of new, smaller brokers, have contributed to its continued success over the past year by choosing to use the Key to support their mortgage sales business.
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France soars ahead with 45 per cent of enquiries, but Spain on the increase too with 33 per cent
France is still the number one choice for Brits buying property abroad, according to the latest overseas property ‘hot spots’ report compiled by Conti, the overseas mortgage specialist. The country is top of the list for the fourth year running, accounting for a huge 45 cent of mortgage enquiries received so far this year. This is the country’s biggest share achieved to date, and compares with 39 per cent last year, and just 15 per cent back in 2008.
Spain, in second place with 33 per cent of enquiries, is also up from 31 per cent last year and from 14 per cent in 2008, thanks to excellent buying conditions and signs that the market is starting to bottom out. To say that the Spanish property market has experienced a turbulent few years would be a bit of an understatement, but it appears that our affections for this country show no signs of waning.
Portugal, accounting for 10 per cent of enquiries, is in third position for the second year running. Although its share is down by two per cent on last year, interest has picked up again over the last three months as falling property prices entice buyers back.
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