Brokers using Knowledge Bank now have access to a range of overseas mortgages via Simon Conn Overseas Property and Finance Specialist.
Conn will help brokers provide their clients with access to a number of different mortgage facilities from over 50 different countries. Brokers will also receive an enhanced procuration fee for going via Knowledge Bank.
While each of the countries will be listed, the different lending criteria for every country will not be on Knowledge Bank in the same way as they are for UK mortgages, as they are too varied and the rules can be very different for each country. However, brokers will have instant access to Conn via a contact form.
Conn is an overseas mortgage facilitator who also helps brokers point their clients in the right direction to make their purchases work and avoid common mistakes. Not only will he aim to find the most suitable mortgage in every country for each client, but he will also be able to recommend lawyers, surveyors and translation companies in the main countries.
Nicola Firth, CEO of Knowledge Bank, said: “Knowledge Bank not only lists criteria for almost every mortgage product area but, thanks to Simon Conn, we can provide information on almost every country as well.
“We now have over 70,000 different criteria listed on Knowledge Bank covering eight different product areas and almost every circumstance that a client may encounter.”
Conn, proprietor of Simon Conn Overseas Property and Finance Specialist, added: “Knowledge Bank is a fantastic system that the UK has been crying out for, for a very long time. It can be hard to find the right mortgage and the right property in this country, even with all of our regulation and safety nets, but abroad it can be a different matter altogether.
“The process of getting a mortgage is much tougher in many other countries than it is in the UK. There is often misleading information and numerous legal and valuation issues, so people can get caught out by not understanding what they are buying or how the local legal or financial systems work. It is also hard for a broker to dive straight into this area without in-depth knowledge regarding local and regulatory matters applicable to each country, so we have teamed up with Knowledge Bank to make it less daunting.
“We will provide both brokers and their clients with someone they can trust who can look out for, and hopefully avoid, any potential pitfalls.”