A large number of Britons are still eager to find a mortgage overseas as a means of securing a home after reaching retirement, one spokesperson has suggested.
An official at overseas insurance and property specialist Saga cited figures revealing that ten per cent of people are considering finding a property outside Britain after reaching retirement - many of whom will no doubt be taking out a mortgage.
Factors such as cost of living, a more favourable climate and easier access thanks to a large number of cheap flights were all noted by the spokesperson as reasons why these mortgage hunters may with to up sticks.
"About 15 per cent of those buying a holiday home do say they are looking to buy for retirement," she remarked.
"In this sense, the most popular country is Spain, followed by France, Portugal and Cyprus."
Conrad Bedford, the managing director of Overseas Property Shop, said that the people looking for property in Murcia, Spain, vary between young adults and retirees, with attractions such as beaches and golf proving to be popular draws for Britons.
Britons still love to find a mortgage overseas
Fri, 06 Jul 2007
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