HiFX launches overseas mortgage service

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by Gill Montia

HiFX, the money transfer business, has launched a fee-free mortage broking service for those seeking to finance the purchase of a property overseas.

The move is in response to consumer feedback on the problems being encountered by property buyers who have fallen foul of unregulated overseas brokers and the complexities of foreign mortgages.

HiFX will search the mortgage market for both UK and overseas lenders for those purchasing or re-mortgaging an overseas property as well as people looking to release equity from their UK homes to buy a second home abroad.

Foreign based lenders are available for purchases in Spain, France, Italy, Portugal, Canaries, Balearics, Madeira, Dubai and South Africa.

Purchases in emerging markets, where borrows can experience difficulty raising finance, are also covered.

Jane Ayliff, Head of International Mortgages at HiFX Mortgage Services comments, “The overseas mortgage market is complex and we know that unfortunately all too many times buyers have paid out hundreds of pounds in broker fees, only to find the broker is unable to secure a suitable mortgage in the end.”

Adding: “We believe it’s time to put an end to those experiences and are proud to announce the launch of our fees free, fully FSA regulated and independent overseas mortgage service.”