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New sourcing system
28 July, 2008
Overseas Mortgages Direct is launching an international mortgage sourcing system allowing brokers to source products in 17 regions and approve a client instantly, on line.
Developed by a team of financial advisers in consultation with the FSA, the system is free and set to revolutionise the way international mortgages are sourced by providing a comprehensive, transparent portal to over 300 regulated products.
The Overseas Mortgages Direct system holds information on all lenders in the regions mortgages are offered. Company director, Paul Mc Shane says this presents a great opportunity for brokers to increase their revenue and consumers to significantly reduce their outgoings, amid the current credit crisis.
The system sources products based on the cost to the consumer, where the lowest cost per month is placed first, irrespective of who the lender may be. With multi currency options and interest only mortgage products, clients can both purchase and refinance at rates literally 50% the cost of finance in the UK, he said.
With guaranteed earnings of at least 600 per case, with possible earnings of up to 1.5% of the mortgage amount, overseas mortgages represent a very straightforward and potentially lucrative revenue stream.