It means that for the first time, financial intermediaries will have instant access to a ‘total solution’ for sourcing both UK and overseas mortgages for their clients.
New functionality within the latest version of Mortgage Brain’s flagship sourcing system, Mortgage Brain 6.80, now allows intermediaries to process enquiries and applications for overseas mortgages as simply as if they were dealing with a UK mortgage. Conti will be the major specialist overseas mortgage packager for the financing, or re-financing, of property abroad, enabling intermediaries to source the most competitive products and services for their clients, quickly and easily.
The full overseas mortgage sourcing system is due to launch in the next few weeks, and will provide intermediaries with the opportunity to earn a valuable new source of revenue, at absolutely no incremental cost.
The partnership repositions overseas mortgages as a core part of Mortgage Brain’s mainstream service, and highlights the great importance of business diversification in these challenging times. It also means that Conti can benefit from Mortgage Brain’s total market reach, bringing overseas property opportunities to every intermediary office in the UK.
The partnership is fundamental to Conti’s new strategy, which is to offer intermediaries’ clients and direct clients access to everything they require to ‘Buy, Sell, Let or Own property abroad’. Having built up a strong and respected brand, Conti is adapting to the demands of the changing market to ensure its business model reflects all of its clients’ needs. It plans, for example, to bring to clients some of the best available overseas property deals and offers direct from leading overseas agents and developers, as well as the best available mortgages from overseas lenders. The partnership with Mortgage Brain provides the linchpin for this strategy, acting as a springboard from which the new management team at Conti can re-launch the company to the intermediary market.
The aim is to reinvent the whole process of buying an overseas property and, over the longer term, for both companies to make this a familiar and fundamental market for intermediaries.
Michael Axelrod, Commercial Director at Conti, says: “This new partnership will allow us to maximise synergies, and provide something which has been missing from the market – a ‘total solution’ for intermediaries. Conti, the UK’s leading overseas mortgage specialist, and
Mortgage Brain, the industry’s most widely used sourcing system, are best placed to offer this service which combines UK and international mortgages for the first time. It’s the perfect partnership.”
Mark Lofthouse, CEO of Mortgage Brain, adds, “One of our prime objectives is to supply intermediaries with all the tools they need to conduct profitable business within the mortgage industry. We are committed to providing them with value added services and, where relevant, partnering with appropriate organisations to help them provide a fast, efficient and more complete service for their customers.
“The agreement with Conti is another clear example of this commitment. The placement of overseas mortgages is increasing in popularity with many of our users looking at this market as a source of generating additional income and the agreement we’ve reached with Conti provides the perfect solution.”
Despite the current economic situation in the UK, the appetite for property abroad remains strong from those who are retiring abroad, emigrating or investing in the overseas property market, due to the value for money (some significant price reductions being available) and the lifestyle on offer.
The overseas remortgage market is another vast opportunity. More than two million Britons currently own a property abroad and, with interest rates at an all time low, the number of clients looking at the refinancing options available in many overseas markets is increasing.
Against the backdrop of the UK mortgage climate, can intermediaries really afford not to get involved?
