One in four Brits may seek international mortgages

Fri, 14 Oct 2011
More than one-quarter of Brits may soon be seeking international mortgages as they look to successfully facilitate a move overseas.

This is because new research from Post Office International Payments has found 27 per cent of 18 to 34-year-olds in the UK are open to the idea of starting a new life abroad.

A further 33 per cent of survey respondents revealed they have considered relocating to foreign shores in a bid to improve their career, while 19 per cent have already lived or worked abroad before.

Reasons for seeking an international mortgage in order to escape to another country include the prospect of improved living standards and the likelihood of a better salary.

Sarah Munro from Post Office International Payments - which is a subsidiary of Royal Mail Group - said: "The combination of financial constraints and a difficult job market is making a move overseas look more and more attractive for young people from the UK."

Those wishing to move abroad said they would likely to stay in their new settings for around five years or more.
 
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