The website reinforces Barclays position as a leading player in the overseas mortgage market and is a key component in the bank's strategy to increase the amount of business it does with intermediaries and increase its market share in overseas mortgages. Buying property abroad has become increasingly popular with British people over recent years and selling overseas mortgages could provide an additional source of income for many intermediaries. Barclays currently pay a one per cent procuration fee on the value of the overseas mortgage and, as the average euro mortgage in Spain, France, Portugal and Italy is around €175,000, each completed mortgage could potentially earn the intermediary €1,750.

The site is tailored to meet the needs of intermediaries at all levels and offers comprehensive information on 16 of Barclays euro mortgages for non-residents in Spain, France, Italy and Portugal. The in-depth information available on the site will allow intermediaries to help their clients understand the options available when deciding how to finance their overseas property. The site is designed for ease of use and its key features include

• Direct access to English speaking local mortgage experts dedicated to the intermediary market
• Agreement-in-Principle process helping intermediaries to quickly provide feedback to clients on the likelihood of securing a mortgage on their property. Currently available for Spain (within 24 hrs) and Italy and Portugal (within 48 hrs)
• Clear overview of all available products including the latest limited offers and interest rates
• Policy fact sheets, including Loan-to-Value ratios and terms and conditions
• Step-by-step guide to the application process in each country
• Income assessment tables and examples to help intermediaries calculate the level of borrowing available to their clients
• Overview of all costs associated with buying a property in each of the four countries
• Add-on insurance products and current account facilities
• A clear overview of Barclays procuration fees, currently one per cent of the mortgage value
• To help calculate the level of borrowing allowable and the monthly repayments, a mortgage calculator will be added to the site in April 2007.

Suzanne Clay, European business development manager said, "Barclays sees intermediaries as a key channel for our overseas mortgage products. This online service reinforces our position as a leading player and will enable us to capture a greater share of the overseas mortgage market. "The website underpins this strategy through providing intermediaries with a comprehensive and straight forward online facility where they can access a wide range of mortgage products in four of the top markets for overseas buyers. We also believe the site will encourage intermediaries to open a dialogue with their clients and discuss all financial options available including euro mortgages and other overseas services." Barclays has over 650 branches in Europe and provides non-resident clients with a full range of banking, mortgage and investment services in English through dedicated mortgage teams. The local branch networks in Spain, France, Portugal and Italy are complemented with fully transactional online and telephone banking services in English. Barclays in Dubai is also able to offer mortgage and investment services for non-residents.