Looking for Spanish Mortgage Leads? See it as a prospect, as a salesman, and where Mortgage Leads originate
Mortgage leads are mortgage leads, whether or not they are Spanish Mortgage Leads, or Mortgage leads in any country.
As a prospect you need to know where the mortgage lead come from, and how reputable the person on the other end of the telephone is.
The same holds true for the salesman, because he or she receives mortgage leads, which cost them for each one. Obviously it can be very lucrative to sell the mortgage, but the conversion success rate is paramount. You need to be clear that the mortgage leads you are getting are of the right quality, and company you are dealing with has a good track record.
The purpose of the article is to try to ensure that as a buyer you don’t make mistakes in the Spanish Mortgage Broker you deal with.
Equally if you take up one of the numerous online offers about becoming a Spanish Mortgage Advisors, that you don’t tie yourself in with a Spanish Mortgage Broker who may not even be based in Spain, has dubious qualifications, and you may get mortgage leads from them but they will be of very poor quality.
The only way you can find out about the Mortgage broker is to make inquiries about them. Try to find satisfied customers from the recent past. Ask them about where their offices are, how many staff they employ, and are you dealing with someone Spanish on the telephone.
The advice therefore is only common sense. In the first place you must find out about the broker in terms of legality. In other words, are they registered? If not they are probably illegal, and not to be touched with the proverbial bargepole.
Don’t ever forget you will be paying out as a Mortgage Advisor for every Spanish mortgage lead you get, and you will need a decent conversion rate to make any money at all.
Many mortgage leads originate online, and sadly Spain doesn’t impose any regulations at all on Mortgage Advisors. What this means is that anyone can decide to become a mortgage advisor regardless of their history, qualifications or honesty.
If you are considering becoming a Spanish Mortgage Advisor yourself, with no experience, then think on the fact that innocent people, who are potential buyers and who will deal with you on the telephone, will believe you will have the expertise, and trust you because they won’t suspect anything different. They will believe that as the person following up the Spanish Mortgage lead, you are qualified to organise the mortgage and the legal niceties.
As a potential purchaser just check out the company or individual you are dealing with just to be safe, and particularly the following, because by Spanish law their website must include:
1. Full legal name of the organisation or company
2. If it s a company it must show it s full address, name, contact information and it s tax reference number
3. A company registered in Spain is followed by the initials S.L. and must show it s tax number which is known as a CIF number. Our company name is Marverose, S.L and our CIF number is B53826798 (ES B5386798 in Europe). We have been trading since 2003.
4. If it s a UK registered company they must also show their registered office address as well.
5. An individual person trading under his/her own name must show the above details and a NIE number that is registered with the tax office as self employed. Not simply a NIE number that we all have to buy a property in Spain. If in doubt ask for their Spanish social security number and tax office reference.
6. FSA regulated brokers in the UK are totally unregulated as far as mortgages outside the UK are concerned.
Finally under no circumstances pay any fee in advance, and never use a broker who wants to charge you a fee on completion, because they will already have received a commission from the lender.
Author Resource:
Gareth Jones has recently been trying to buy a property in Spain, and has had little success in the beginning, but has increased his knowledge of the Spanish Mortgage market. Check out http://www.spanish-mortgageleads.com
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