Validus Invest has launched a financial services arm handling French mortgages, effective from November 13.
Validus Financial Services will work closely with its sister company VEF French property, advising its clients and other overseas property buyers on financing their purchase using a French lender.
The move was sparked by frequent requests from VEF clients for the provision of mortgage advice on top of the spread of services that the Millharbour, Docklands, French property specialists already supply under their single-fee service.
Although initially providing French mortgage financing, VFS intends to open a UK lending department within six months, so that they can provide clients with direct comparisons between home and overseas providers.
Katie Voutt, mortgage advisor for VFS, says: VFS will be acting as an independent broker for the client, and will work in association with the French lender.
Although a new company, we are fortunate in being able to tap into VEFs 20 years of experience of French property and the expertise that it runs in-house, including its language and law divisions.
Louis Mann, director of Validus Invest, says: The Financial Services arm will allow us to offer a seamless service for French property buyers by helping to simplify and speed up the sometimes sluggish banking process in France, while VEF manages all other aspects of sourcing and purchasing for them.
“Ensuring that finance is finalised as early as possible is critical when buying abroad. Buyers should not sign the compromis until they have an agreement in principle regarding their French mortgage. It helps them immensely if their financing is set up in early as possible in the purchasing process as this places them in a far stronger position.
Well be looking to start selling UK-based mortgages sometime next year.