Press
Mortgage Solutions 18th Sept 2006
PMS launches Spanish property service
An online service that will market Spanish homes to British people is to be launched by Premier Mortgage Service (PMS) in conjunction with Barclays and Spanish property search website www.facilisimo.com.
Pearl Overseas, which will launch on 15 November, will allow British people to find and buy property in Spain from Spanish property developers. Only properties that have been independently certified by legal teams will be marketed on the English language website.
IFAs will receive a 2.5% commission on the value of the property sale when their client has paid a deposit and signed a contract on the property. IFAs will also be able to gain additional revenue by referring any subsequent mortgage business to Barclays through Pearl Overseas.
John Malone, managing director of PMS, said: "We are delighted to announce our business relationship with both Barclays and Facilisimo.com, which we know will provide thousands of intermediaries' clients the confidence and reassurance of purchasing property initially in Spain."
Ernesto Plaza, managing director of Facilisimo.com, added: "The strength of the players involved in Pearl Overseas makes it the UK's most reliable channel into the Spanish market and a highly viable option for IFAs wishing to help clients explore the Spanish property market with confidence."
James Carter, IFA at Virtue Financial, welcomed the news: "We receive the odd enquiry from clients interested in buying property abroad. Spain is a major area, as well as France, so it is good this service has launched."