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Quarter of Brits 'would move overseas to save'

One in four first-time buyers would move abroad to live frugally while saving for a deposit on a home in Britain, according to National Savings and Investments' (NS&I) latest survey.Young people were found to be the most mobile group with one in four willing to consider emigration, even as far as New Zealand and Australia, while more than a third of people aged 25 to 34 would consider relocating in Britain.The survey also discovered that as more eastern Europeans move to the UK in search of better job prospects, one-fifth of Britons would consider moving to eastern Europe to live cheaply while saving for a deposit. However the most popular destination for young savers was named as Spain. The sunny climes of Spain plus its location close to Britain gave the nation 43 per cent of the votes from those who would consider emigration."British people clearly have a great appetite for buying a property in this country but find it difficult to save for a deposit while living here," said Dax Harkins, a senior savings strategist at the state-owned savings bank.He added: "It seems many will go to extreme lengths to achieve their goal, even if it means moving to the other side of the world in order to save up for a deposit back home."

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