Active Lending Solutions has linked up with Banco Halifax Hispania to offer online agreements in principle in a bid to speed up overseas lending for brokers.
Joint chief executive Mike Buckley says the new process developed with BHH means an adviser will know very quickly if a client can borrow sufficiently to buy a property abroad.
The broker has to complete an enquiry form online and submit it to the dedicated underwriting team. The broker will be able to notify its client of the decision within 24 hours.
Buckley says: “The problem with so many overseas lenders is that they take an eternity to give a decision.”
The Mortgage Practitioner sole practitioner Danny Lovey says: “It remains to be seen if Active Lending Solutions will be a channel that intermediaries will find is a good way to get the best advice and service for their clients wishing to purchase abroad.”