Brokers see overseas mortgage opportunity

Conti said despite the situation 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.”

The most recent PrimeLocation.com International Search Index revealed the number of people house hunting on its site increased overall by 14% during the third quarter of 2011 and by 17% for the top ten most popular destinations with France and Spain coming top.

Clare Nessling added: “It’s clear that investors are favouring the tried and trusted locations when it comes to overseas property.

“But they also want easy access, good rental opportunities and security with price appreciation over the long term.

“Conversely, the flurry of interest we saw in the far-flung emerging markets a few years ago seems to have totally disintegrated.”

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