Adviser launches expat mortgage service
DeVere Group has introduced a standalone expatriate-focused mortgage division following rising demand from overseas-based clients.
It will be overseen by head of East Midlands Mitch Hopkinson and led by mortgage consultants and specialists including David Eggison, Lee Adams and Martin Grundy.
DeVere said it plans to increase the volume of mortgage business by up to 300% in 2015 with the launch of its new brand.
Hopkinson said despite recent figures that point to a slump in housing figures, the group had “registered a month-on-month” rise in enquiries over the past year, a trend which he expects to continue.
He said: “As part of a truly global organisation which has 80,000 mainly expatriate clients, this skyrocketing demand for our mortgage advice is fuelled primarily from people living overseas or returning British expats who, because they live and work abroad, would typically be branded ‘high risk’ by UK lenders.
“We believe other possible contributing factors in this soaring demand for our independent mortgage advice from expats include the tougher rules for securing mortgages, rising house prices, the possibility of rising interest rates, plus the uncertainty prompted by the general election and global economic growth concerns.”