According to Rightmove Overseas, for example, as the cold weather draws in across the UK, users have been looking to beat the winter blues by browsing some of the tens of thousands of properties for sale across the globe on its website, with more than 60 per cent of destinations experiencing a rise in searches during November.
Bargain prices and historically low interest rates are making it more affordable to buy property abroad, and the recent strength of the pound against the euro is boosting the budgets of those looking to buy property in the more traditional locations like Spain and France. Easy access and the potential for good rental returns are also adding to the attractiveness of these locations. And there’s still a healthy appetite from overseas financial institutions to lend to foreign investors.
It appears that the Brits’ love affair with overseas property is very much alive and well.
Perhaps that’s why an increasing number of intermediaries are realising the benefits of overseas mortgages as an additional revenue stream, with an average of 81 per month signing up with Conti last year.
