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Barclays and PMS team-up for Spanish property push

Barclays and Premier Mortgage Service have teamed up to help Britons find and buy a property in Spain.

The initiative, called Pearl overseas, will kick-off in November and will include the services of Spanish property website Facilisimo.com.

It will launch with around 150 developments from the top 70 property developers in Spain, which means over 1000 individual properties will be listed.

IFAs will receive a 2.5 per cent commission on the value of the property sale when the client has paid a deposit and signed a contract on the property.

Barclays director for international clients for Spain Hugues Pfyffer says: Barclays has clearly stated that it wishes to grow the income it generates from outside the UK. Spain has always been an attractive market and it is also where we have our largest presence in continental Europe.

PMS managing director John Malone says: For the last 18 months, we have been researching the overseas market and in particular Spain for suitable partners for this additional venture. We are delighted to announce our business relationship with Barclays and Facilisimo.com, which will provide thousands of clients with the confidence and reassurance of purchasing property initially in Spain.

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