Mortgage Direct, Spanish mortgage provider.
Around 6 months ago we mentioned that we are now working with more banks who have recently entered the non-resident mortgage market. Whilst these are mainly Spanish banks who have been lending for many years, they have previously had little presence in the foreign client market.
We’re pleased to confirm that since starting to submit cases via these new channels, we’ve now completed on a good number of mortgages and there have been huge savings to the client such as free on-line banking, lower mortgage set-up costs, lower interest rates and no life cover. The only downside we have seen so far is the speed of service which is something we are trying to work on with the banks.
Major banks tell us we are their leading introducer of mortgage business in terms of the quantity and quality of client profiles we submit – we are the leading independent mortgage broker in Spain. The number of our clients defaulting on their mortgages is very low compared to other introducers. For these reasons, our clients are given priority treatment and offered better conditions.