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News: New Spanish property business with a twist

A new international property company is being formed by three major industry players and will launch in November

Pearl Overseas is the first English language internet service marketing pre-vetted Spanish property developments to the UK market. It will launch in November initially with around 150 developments from the top 70 property developers in Spain, which means over 1000 individual properties will be listed.

Barclays, Premier Mortgage Service and Facilisimo.com, the main property search website in Spain, are forming the venture.

IFAs who are interested in joining the scheme can register in advance of the launch on ‘pearloverseas.com’ to gain access to a service that will enable them to help their clients enter the overseas property market.

The new service will provide easy access to the Spanish property market while acting to safeguard the interests of prospective buyers and assist British people who are looking to buy property from trusted and respected sources. Pearl Overseas, which is backed by Barclays, the sixth largest bank in Spain with around 500 branches, will only market properties which have been independently certified by legal teams, giving buyers the reassurance that they are securing good title on their property from reputable providers.

Barclays guarantees that all the properties advertised on Pearl Overseas have undergone due diligence and developers are reputable and of good standing, and all properties listed carry all the necessary permits and licences. As a further re-assurance all monies deposited by the buyer will be guaranteed by a bond provided by Barclays or another bank.

The structure of the partnership between Barclays, Premier Mortgage Service and Facilisimo.com means that both IFAs and their clients can consider purchasing property in Spain with peace of mind, from trusted sources, with no hidden fees and commissions.

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