Conti joins forces with Safe Buying Experience - 11th August 2008

To help restore confidence in Spanish property market

Conti Financial Services, the UK’s leading overseas mortgage specialist, has joined forces with the Safe Buying Experience (SBE), a company which aims to provide a safe and secure process for buying properties in Spain.

Some property experts suggest there’s never been a better time to invest in Spain, thanks to a recent fall in prices. However, it has also been plagued with negative reports regarding over-supply, corruption and land-grabs, which has led to a lack of confidence amongst potential house hunters. But nightmare stories about the dangers of buying in Spain could soon come to an end, thanks to the launch of this new scheme to help protect the innocent buyer.

The SBE has been launched in partnership with leading property developers which means that every property on its books has gone through a robust accreditation process, independently vetted by an accredited law firm. Only individual developments are given the SBE accreditation stamp of approval, rather than to the developer, to ensure that each development goes through the same rigorous standards.

As a result, the buying process is much more secure. Any property which has been accredited by the SBE will already have the necessary licences and planning consents in place, title searches will have been undertaken, and the purchase contract will have been checked and any abusive clauses removed. In addition, all the necessary legal documents will have been gathered ready to send on to the purchaser’s lawyer, resulting in a quicker, cheaper and more efficient conveyancing process. And the solvency of the developer will have been checked too.

SBE will recommend Conti as mortgage broker for any clients wanting to buy a property from one of its accredited developers in Spain. Mortgage applications for those who choose this option will be processed and underwritten by Conti’s teams of specialists, who know the exact mortgage application requirements for Spanish lenders.

It provides a complete hand-holding service, advising on the most favourable lending rates, and negotiating competitive loan-to-value schemes over timescales to suit the client.

Simon Conn, Conti’s Sales and Marketing Director, says: “Many of the negative reports about Spanish property have been overstated. Yes, its had more than its fair share of problems, but generally speaking, I still believe that Spanish property will continue to increase in value over the long term and that the country still offers the perfect lifestyle opportunity. The SBE will help to restore confidence and ensure that the purchase is secure and legally above board.”

Ben Marson, SBE’s Head of Legal, says: “Buyers would like nothing better than upfront reassurance that their dream home abroad has been built in accordance with planning rules and regulations and they’re not going to be burdened with a poor or unenforceable contract after handing over their reservation deposit. Buying abroad is a huge investment and this new scheme will help to ensure that it’s a sound investment.”

Anyone interested in buying a property in Spain can find out which developments have been accredited by the SBE by visiting www.safebuyingabroad.com. This website also provides details about Conti Financial Services Ltd., and other SBE partners, all of whom have been subject to due diligence checks. As such, the website offers a one-stop-shop of useful services, including lawyers, brokers, tax advisors, property managers and foreign exchange specialists.

Accredited developments are offered in Spain only at the moment, but SBE plans to add further jurisdictions in due course.