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DeVere introduces mortgage advice sector for expats
| Published: | 29 Jan at 12 PM |
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DeVere Group has launched a special mortgage division for expats after increased demand from clients who live overseas.
The independently-run sector, DeVere Mortgages, will offer advice on properties abroad, buy-to-let equity release and tax optimisation from rental income. The group said it wants to increase its mortgage-related business by as much as 300 per cent over the course of the year on the back of the launch.
Head of the company’s East Midlands branch, Mitch Hopkinson, who will oversee the division, explained that even though recent data indicated there had been a fall in housing figures, they had actually recorded an increase in enquiries over the past 12 months, something which he said was likely to continue.
He noted that DeVere was a “truly global” group which boasted around 80,000 mainly expat clients, so the rise in demand for mortgage advice is largely down to those who live abroad or returning British expats who, due to the fact they reside and work overseas, would generally be viewed as “high risk” by lenders in the UK.
He went on to say that they thought there were other factors behind the rise in demand for mortgage advice such as the possibility of increasing interest rates, tougher regulations for securing mortgages and rising house prices as well as the general uncertainty triggered by the UK election.
The independently-run sector, DeVere Mortgages, will offer advice on properties abroad, buy-to-let equity release and tax optimisation from rental income. The group said it wants to increase its mortgage-related business by as much as 300 per cent over the course of the year on the back of the launch.
Head of the company’s East Midlands branch, Mitch Hopkinson, who will oversee the division, explained that even though recent data indicated there had been a fall in housing figures, they had actually recorded an increase in enquiries over the past 12 months, something which he said was likely to continue.
He noted that DeVere was a “truly global” group which boasted around 80,000 mainly expat clients, so the rise in demand for mortgage advice is largely down to those who live abroad or returning British expats who, due to the fact they reside and work overseas, would generally be viewed as “high risk” by lenders in the UK.
He went on to say that they thought there were other factors behind the rise in demand for mortgage advice such as the possibility of increasing interest rates, tougher regulations for securing mortgages and rising house prices as well as the general uncertainty triggered by the UK election.
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