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MAY 2012 |

Best Financial Services Provider

Gold:Overseas Mortgage Broker

What did Overseas Mortgage Broker say in its application form? “Overseas Mortgage Broker was formed in June 2008. In the three years since then, the company has undergone signifi cant change whilst holding to its core values of customer service and working with others to provide this service. We can now offer mortgage advice in over 40 countries around the world. Founded in the UK we naturally have our centre of operations there and still have our core relationships with companies from the UK.

This has led to the majority of our clients coming from the UK. However, the service we offer is open to most nationalities and we are now seeing more clients from other European countries and from North America. In the last year, we have begun to actively expand our relationships to other countries. This has been done in order to

help generate additional clients from those other countries. We are now heavily involved, for instance, with Swedish clients buying property in Southern Italy.

Central to our provision of

fi nancial services has been the taking of a holistic view of our client’s circumstances. We have often raised deposit monies from a client’s existing UK property and then raised a new mortgage on their property


overseas with a local lender. The UK side of our business is conducted under the regulation of the Financial Services Authority and we apply the same high standards to our overseas mortgage proposition. We have a standard fee charging

structure, which always ensures that we offer good value for money. Our advisers are not allowed to

charge above this, since we always aim to treat customers fairly and never take advantage of a client who may have had problems with other brokers and be under pressure in their transaction. We look to advise our clients in as

many areas as possible and to make recommendations to other overseas property experts where specialist advice is required. We can advise or refer clients for home loans, life insurance, domestic insurance, legal advice and foreign

“We are now heavily involved with Swedish clients buying property in Southern Italy”

exchange. We have built the biggest database of lenders that exists for international home loans and have in-built innovations, such as the automation of interest rate updates.

This innovation, and the work of in house technical team, allows us to implant iFrames in other companies own websites. This allows our introducers to provide specifi c information to their clients. These rates

What does Overseas Mortgage Broker do?

Overseas Mortgage Broker Ltd is an international finance brokerage. It offers home loans to individuals buying second homes and development finance to commercial enterprises. Despite being based in the UK, OMB seeks to provide services on a global basis. It currently has 12 staff engaged in providing these services. All its advisors have to be qualified and regulated under the Financial Services Act and the business is run as if it were a fully regulated organisation ... (The FSA has declined to regulate overseas mortgages). We receive the bulk of our clients through third party introductions, says OMB, although an increasing number are now coming from our own marketing. Headline success for 2011 will be a company turnover in excess of £1,000,000 and “we have met many other internal Key Performance Indicators. These include, growth in advisor numbers, client satisfaction and introducer satisfaction measures.”

are updated every day. We provide such information for several web portals, emphasising the countries that they get most hits for. We can also provide bespoke information for country specifi c introducers. We also have many organisations that refer clients to us. In the fi rst two years of the company, these were predominantly UK based companies. This year we have reached the point of having more overseas introducers than UK based ones. We can provide our introducers with feedback as frequently as they like in any format they like. Once a methodology has been agreed, we design the reports and these are passed through our business relationship managers. We can also provide sales training to our introducers, to help them look for opportunities and also help them weed out “buyers” who will never actually be able to close on a property purchase. We are very sensitive to our

inroducer’s existing relationships and use our advanced IT systems to ensure that we never cross sell against an introducer.

Stephen Brown | OMB is expanding fast into new countries and into new markets

For instance, we would never recommend “Currency Index” if an introducer had an existing referral relationship with “Moneycorp”. The latest addition to our offering is that we are now able to provide development fi nance for real estate and resort developers. We have been offering this service on a request-only basis since the beginning of the year. Also, we have carried out extensive research into providers and

fi nance structures. We have set up a network of contacts in Europe, the USA and Australia to assist in providing these services to our business clients and we feel that overall we have a higher level of success by following this route.

Bank lending itself in these areas is now highly restricted and other avenues need to be explored to provide development fi nance. With our international partners we are looking to provide imaginative solutions to the current funding gap. We also feel that this commercial lending complements our overall business by allowing us to offer different levels of appropriate funding solutions. We can now provide fi nance for developers to get their project built and, following that, we can provide the individual fi nance for the purchasers of the properties. This gives us a good level of

vertical integration throughout a projects lifespan. We, of course, also advise the developer on what individual mortgage products can be available for their clients, allowing them to see if a client is in a real position to buy. We understand that commercial funding is very different from individual mortgage lending and because of the scale of lending, our commercial funding enquiries are only ever handled at director level to ensure the highest possible level of attention to detail. We put the client fi rst in everything

we do.”

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