A new survey has revealed that 42 per cent of Britons would be interested in buying a property overseas, hinting at continued demand for international mortgages over the coming years.
According to a study from financial services provider Bank of Scotland International, the most popular destination for prospective foreign home buyers is Australia, with ten per cent of Brits confessing they would like to own a property Down Under.
The second most popular property location was New Zealand (nine per cent), followed by the US and Canada (both seven per cent).
However, Tony Wilcox, managing director at Bank of Scotland International, told would-be international mortgage holders that it is important to plan ahead before making the move.
"If you are planning to leave the UK to live temporarily or permanently overseas, you need the right products and services in place so that you have a firm foundation for your finances," he said.
Many homeowners choose to relocate overseas to benefit from the lower cost of living abroad.
Illustrating the expenses involved in living in London, the city was recently named the fourth most expensive city in the world by the Economist Intelligence Unit.
International mortgage aspirations hint in new property survey
Thu, 17 May 2007
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