Conti Property is a brand new shop window which showcases luxury villas, apartments and gites in the two top overseas hot spots, France and Spain, with Turkey due to follow soon.
This means that intermediaries can introduce a carefully chosen selection of homes available overseas to their clients, with the opportunity to earn valuable commission without actually selling anything. And they can arrange any required finance for their clients, as normal, through Conti as well.
The amount of commission which can be earned will vary depending on the property price, the terms of agreement, and current exchange rates. A couple of typical examples are:
Spain – Average property price of €155,000; potential commission of £8,189
France – Average property price of €232,000; potential commission of £8,574
The Conti Property website is being managed by Mortgage Brain, as part of the partnership between the two companies. It will feature a regular ‘deal of the month’ and provide a readymade letter introducing the service, which intermediaries can download and send to their existing client base.
Clare Nessling, Conti’s operations director, said: “Conti Property is such a natural fit for us as a company. It means that intermediaries can give their clients access to some of the best available overseas property deals, as well as the best available mortgages from overseas lenders.
“Bargain property prices and historically low interest rates are making homes overseas much more affordable. Perhaps this is why more and more intermediaries are realising the benefits of the overseas mortgage market as a valuable new revenue stream. We’ve signed up more than 1,600
in the last six months alone, and hope that with the launch of Conti Property, even more will be encouraged to widen their avenues of business.”
Conti Property requires very little effort on the part of the intermediary. Once they have introduced a client, Conti and the relevant third party, whether an estate agent, developer or bank, will manage the whole purchase process through to completion, making it as straightforward as possible. Conti will also provide regular updates to brokers on the progress of their client’s purchase.
On the financial side of things, all mortgage applications are processed and underwritten by Conti’s teams of specialists, who know the exact requirements for each overseas lender. They can advise on the most favourable lending rates in the country of interest, and negotiate competitive loan-to-value schemes over timescales to suit the client.
