Mortgage Brain and Conti launch overseas sourcing system

Mortgage Brain has launched its overseas mortgage service in partnership with Conti, which will pay brokers 25% commission for each completed case.

The commission rate is calculated as 25% of the total amount that would be earned on the case, whether this comes from the lender or the client.

Brokers can download the system to process overseas mortgage enquiries and applications for countries such as France, Spain, and Portugal.

The system has been developed as part of Mortgage Brain’s latest version of its sourcing technology, Mortgage Brain 6.80.

Conti will take responsibility for the financing and re-financing of properties abroad.

Mark Lofthouse, chief executive of Mortgage Brain, says: “We are committed to providing brokers with value added services and this partnership with Conti is another clear example of this commitment.

“The placement of overseas mortgages is increasing in popularity with many of our users looking at this market as a source of generating additional income.”

Michael Axelrod, commercial director at Conti, says: “The launch of this service brings overseas property opportunities to every broker office in the UK, with the chance to earn a valuable source of revenue at no incremental cost.

“It means they can now process enquiries and applications for overseas mortgages as simply as if they’re dealing with a UK mortgage, with access to the best available deals from overseas lenders.”

He adds: “Despite the economic situation in the UK, the appetite for property abroad remains strong from those who are retiring abroad, emigrating or investing in the overseas property market.

“With business diversification now being more important than ever before, the overseas mortgage market is an area of vast opportunity.”