Clapper takes equity stake in Viva Costa
The investment is being made via his newly created investment vehicle, Clapper Ventures LLP. Other members of the LLP include Jo Dempsey, Enterprise’s former chief operating officer, Mark Davies, former legal director and Howard Wallis, former finance director.
Viva Costa International was formed in 2005 and has become established as one of the UK’s market leaders in assisting advisers and their clients with overseas mortgages and property sales, with offices in the UK and Spain. Viva is appointed to the panels of many of the UK’s major adviser networks including: Openwork, Home of Choice, Positive Solutions and MortgageNext, and provides easy access to overseas mortgages and reputable property developers across a vast range of countries. Viva Costa’s service allows advisers to submit an enquiry, receive a quote to gain client acceptance, and then pass the rest of the work to Viva Costa.
When asked his reasons for investing in the overseas sector, Clapper said: “I believe the market for overseas mortgages and property sales is set for significant growth. Very low interest rates from overseas lenders – who are both willing and able to lend – coupled with some exciting investment opportunities in countries such as Cape Verde, make an attractive combination in the current climate. Adrian and his team have done an excellent job in establishing Viva Costa as one of the most respected brands in the sector, with extensive secured distribution and an attractive Franchise model which has already gained significant traction.”
In November 2009, Viva Costa launched a franchise model, allowing franchisees to provide a localised service to brokers across regions in the UK. There are 9 live franchisees with a further 5 going live this month.
Adrian Holland, managing director at Viva Costa International said, “We are absolutely delighted to welcome Michael and his team as both investors and advisers. Most people are aware that he founded and grew what became a Fast Track 100 business and one of the UK’s largest distributors of mortgage and loans. His experience will be invaluable in ensuring we meet our ambitious plans to become the service provider of choice for all mortgages and properties overseas.”
Clapper added, “Many clients with existing overseas mortgage can save a small fortune with a remortgage today, so all brokers should be exploring these areas with their clients if they are not already doing so. Viva Costa’s service proposition delivers easy access to what is a complex market.”