Overseas mortgage enquiries soar
Overseas mortgage enquiries soar
The overseas property market could be showing signs of recovery, according to new figures. Mortgage quotes for holiday homes abroad were up 20 per cent in September.
September was the busiest month of the year so far for overseas mortgage specialists Conti. The company issued 20 per cent more mortgage quotes last month, with the value of the applications also rising to a year high.
Conti puts the surge down to falling property prices in Europe and low interest rates. Operations director Clare Nessling said: "The staycation trend may have reduced the number of Britons holidaying abroad this summer, but many of those who did venture overseas have returned home with plans to buy their very own place in the sun."
Easy access to popular locations may also be a contributing factor, Nessling added. Good rental opportunities for
Spain villas and
gites in France are also likely to have influenced potential investors.
France (31 per cent), Spain (22 per cent) and
Turkey (13 per cent) were the top three locations for mortgage enquiries. This leads Conti to comment that buyers are sticking to the destinations they know and trust, rather than investing in "more adventurous", emerging markets.
This story was brought to you by holiday
lettings.co.uk, the UK's No.1 for holiday homes worldwide.
Related Stories
Mortgage hopes as euro interest rate cut to all time low
Income tax advantage for investors of new French properties
FCO in Turkey producing list of reputable property professionals9 October 2009
Print this article
