Financial advisers will be urged to ensure their clients always get specialist independent advice before considering any overseas property purchase by Simon Conn, senior partner with overseas mortgage specialists, Conti Financial Services, when he leads off the daily seminar programme at Mortgage Expo to be held at London Olympia on 17/18 November.
With the market for overseas property growing all the time, Mr Conn will be drawing on his twenty years' experience in this marketplace to assert the necessity for IFAs to advise clients not to rush into an overseas property deal in haste without taking specialist, legal and financial advice or studying the market in their chosen country in depth.
With media coverage fuelling the trend towards owning overseas property he sees too many buyers coming unstuck abroad as, armed with their wad of cash borrowed from their UK lender, or the result of selling up in the UK, they fall prey to the siren call of developers luring them into potential off-plan misery.
'The overseas property marketplace can be very complex with language, legal and legislative difficulties as well as the costly and time-consuming issue of communication with overseas lenders.'
'By consulting overseas specialist packagers who can offer 'one-stop' expert knowledge of a client's chosen country, exclusive lending terms and legal and tax advice, IFAs are not only offering their clients' best advice and smoothing the buying process but also raising clients'
perception of their own service,' he concludes.
