Insurance News Archive

'Number of Britons looking for overseas property doubles'

The number of Britons willing to look abroad for property has almost doubled in the past year, a price comparison website has revealed.

According to Fairinvestment.co.uk, up to 44 per cent of people in the UK hoping to gain a foothold on the property ladder would consider moving overseas where prices are cheaper.

This time last year - before the impact of the credit crunch - National Savings and Investment found that 25 per cent of Britons were considering investment abroad.

Meanwhile, specialist property finance broker Assetz Finance has experienced a ten per cent increase in the amount of Britons enquiring about buying overseas property during 2008 so far.

"Since the start of the year, we have noticed a considerable increase in the number of enquiries from customers looking to buy a home in destinations such as France and Spain, either as a future retirement property, or indeed as their permanent residence," said Katy Hepworth, the company's overseas mortgage manager.

Assetz said that the increase is partly due to the widening of mortgage options by European lenders.

27 Mar 2008