Smartr365 has announced its integration with Smart Currency Exchange to streamline transactions where the deposit is coming from an international buyer or account.
This comes after a soft launch with Smart365’s key distribution partners.
Smart Currency Exchange enables the transfer of currency for a number of transactions, including mortgage payments.
Smartr365 said this would “add value to the property purchase experience”, especially for advisers dealing with clients with international deposits.
The platform converts foreign currency into sterling for UK property purchases and converts funds for clients buying property overseas. It also offers fixed exchange rates to give buyers certainty around costs.
Further, Smart Currency Exchange pays advisers lifetime commission for every successful referral, with the average commission per transaction totalling more than £200.
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Smartr365 said that by integrating with Smart Currency Exchange, complex international deals would be simpler, more secure and more likely to complete.
Conor Murphy, founder and CEO of Smartr365, said: “This integration is another step forward in our mission to fully automate and optimise the mortgage journey for brokers and their clients. By embedding Smart Currency Exchange into Smartr365, we are removing yet another layer of friction from the property transaction process – particularly for international buyers.
“It is precisely these types of intelligent, embedded services that will define the future of mortgage advice, and this launch brings us closer to delivering a truly end-to-end, fully integrated platform.”
Nicholas Partington, partnerships director at Smart Currency Exchange, added: “The integration between Smartr365 and Smart Currency Exchange gives advisers a great opportunity to help simplify the payment of deposits from international sources for their clients.
“By working closely with Smartr365, we are now able to offer a seamless referral integration that adds real value to both advisers and their clients – removing currency risk from the property purchase. We are delighted to collaborate with Smartr365 on this project to enhance adviser propositions and boost commercial opportunities in the process.”
Earlier this month, Smartr365 launched a live comparison panel for general insurance with access to Uinsure and Paymentshield.
