Knowledge Bank has partnered with an overseas mortgage facilitator to be able to service brokers searching for loans outside of the UK.
Brokers using Knowledge Bank’s criteria searching system will now have access to the overseas mortgage services offered by Simon Conn Overseas Property and Finance Specialist.
Simon Conn will offer products from more than fifty countries alongside services from lawyers, surveyors and translation companies in the chosen countries.
When brokers search for an overseas mortgage using the Knowledge Bank website, a direct contact form will be offered to access the Simon Conn service.
Simon Conn, proprietor of Simon Conn Oversea Property and Finance Specialist, said he believes finding the right mortgage and property can be a difficult task at home and abroad.
He said: "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."
Mr Conn said he hopes the partnership with Knowledge Bank will make the overseas mortgage application less daunting for brokers.
He added: "We will provide both brokers and their clients with someone they can trust who can look out for, and hopefully avoid, any potential pitfalls."
Jane King, financial adviser at Ash-Ridge Asset Management, expects the service to be a good deal.
She said: "Perhaps with the uncertainty surrounding Brexit, people will be put off purchasing one off properties abroad for a while. But for bigger spenders this service would certainly provide another option to consider purchasing in foreign currency."
rachel.addison@ft.com
