Viva Costa partners with Mortgage Brain

Viva Costa International and Mortgage Brain have today announced an affinity partnership, with the launch of Viva Costa's overseas products now showing on the all new Mortgage Brain. This news follows the recent acquisition of an equity stake in Viva Costa International last month by Michael Clapper, the founder and former group chief executive at Enterprise Group.

Viva Costa International is established as one of UK's leading providers of overseas mortgages for brokers and their clients, with access to exclusive funding lines and products from many of the world's largest overseas lenders.

Adrian Holland, Managing Director at Viva Costa International said, Mortgage Brain's new system is extremely impressive and we therefore feel now is the perfect time to formalise a partnership to promote and illustrate our overseas products on the new system. We have recently seen a flood of overseas remortgage applications, particularly in Spain and France where savings are significant, and brokers can now produce full product quotes on Mortgage Brain for the first time, making it even easier to do business with us.

Mike Raybone, Head of Operations at Mortgage Brain said, We have seen some exciting developments at Viva Costa in recent weeks and firmly believe the overseas market presents real and significant opportunities for brokers now and in the future. Our partnership with Viva Costa is therefore an excellent development for the users of Mortgage Brain.

The structure of the French mortgage market contributes to the economy's overall stability.  Over 80% of all owner-occupied dwellings are mortgaged. More than 80% of housing loans are fixed-rate mortgages. Around 85% to 90% of new housing loans have an initial rate of fixation of more than one year. It's this stability in the French market place which makes purchasing in France a sound investment. France weathered the World financial crisis well with property prices only dropping a fraction compared to the rest of the world and has already seen property prices rising quarter on quarter since mid 2009.

If your clients are looking to purchase in France it makes sense for them to have discussed the finance first so they know what they can afford, if you don't arrange it before they go they the French estate will.

The Spanish market place continues its recovery and remains the most popular destination for people to purchase their dream homes. According to the Spanish statistics office, the INE, sales of Spanish property were up 9% this March compared to last March. This is an increase of only half that seen in February (18.7%) but does point to a continued increase in sales of Spanish property.

Foreigners are thought to be behind a substantial part of the recovery, with agents and developers in the Marbella property market reporting increases of 150% over last year in sales to foreigners. Spain has excellent transport link to the UK with daily flights from most regional airports. The banks are offering some excellent mortgage products with highly competitive rates available for purchase, re-finance and capital raising which is helping to drive the mortgage market. Many of your clients will be looking to either buy or re-finance their Spanish property and it will be fresh in their mind as they return from the half term break so don't miss your opportunity.

Despite unremitting gloom in America's worst hit corners, the nationwide US property market is showing fragile, flickering signs of life as buyers are tempted by a glut of bank-owned foreclosed property available at dirt cheap prices, although a high percentage of these are Condo's which are still very difficult to mortgage. If you want to buy in the US now is an excellent time to be looking.

Lenders are starting to release their strangle hold of the mortgage market with lending criteria starting to get easier although the rates for Non Residents are still not as attractive as the resident market and no self cert products exist. The US lenders are still very efficient in their processing of a case, we have just had a completion of a $850,000 which has only taken 3 weeks from application to completion. With rates starting form 6% and loan to values as high as 70% the market place is very attractive for an investor.

Turkey is still proving to be a popular destination for the holiday maker and investor alike. With over 25 million tourists visiting each year and a huge population of 70+ million the developers have been kept busy with the demand for property. Unlike some countries where property is built for the International buyer, Turkey builds for the local market making re sale of property easier as there is a strong internal property market and re re-sales are not reliant on the international investor. As visitor numbers grow rental returns from property remain good and with the summer's being longer and a very low cost of living Turkey is becoming a popular second home and retirement destination.

The Property Market for international buyers is still in its infancy, property sales to non residents started in 2003 with mortgages not becoming available until 2007, with properties still being sold from around £30,000 the Turkish market is set to remain high on peoples radars.

Michael Clapper - the founder and group chief executive of Enterprise Group - is back in the broker services market having acquired an equity stake in Viva Costa International Mortgages Ltd, via his investment vehicle Clapper Ventures LLP.

Viva Costa International was formed in 2005 and has grown to become one of the UK's market leaders for overseas mortgages and property sales, with offices in the UK and Spain. Viva Costa International is appointed to the panels of most of the UK's major adviser networks, including Openwork, Home of Choice, Positive Solutions, Mortgagenext  and provides advisers with simple access to overseas mortgage products and reputable property developers across a vast range of countries.  Their service allows advisers to submit an initial enquiry, receive a quote to gain client acceptance, and then leave the rest of the work to Viva.

In November last year, Viva Costa International launched a Franchise model, allowing Franchisees to provide a localised Viva service to brokers across regions in the UK. There are now 9 live franchisees with a further 5 going live in March.

Clapper said, "Adrian and his team have done an excellent job in establishing Viva Costa International as one of the most respected brands in the sector, with extensive secured distribution and a very attractive Franchise model which has already gained significant traction."

"I believe the market for overseas mortgages and property sales is now set for significant growth, so much so that I've invested in it! Very low interest rates from overseas lenders, who are crucially both willing and able to lend, coupled with some superb investment opportunities appearing in countries like Cape Verde make this a very attractive combination in the current climate.  Most clients with an existing overseas mortgage can often save a small fortune with a remortgage, so brokers should be exploring these areas with their clients and Viva's service makes it very easy for them to do so".

Adrian Holland, Managing director at Viva Costa International said, "We are absolutely delighted to welcome Michael as both an investor and adviser. 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 property overseas."