More Brits buying abroad
More than a quarter of a million Brits currently own a property abroad, and one-third of the population would like to buy a home overseas, new research by Natwest claims. A third of both current and potential overseas homeowners told Natwest that they thought that owning a holiday home would make holidays more affordable, while a quarter felt it would take a lot of the stress out of arranging a break.Mike Freer, head of business development at Natwest international personal banking, said: "Holidays should be fun and relaxing but sadly this isn't always the case. "The hassle and expense of arranging holidays can be hugely traumatic - from deciding where to go and remembering to pack everything but the kitchen sink, yet keeping under the new airline luggage weight restrictions." Mr Freer went on that buying a holiday home abroad was "increasingly becoming the norm for British families". "While the upfront purchase cost is a huge financial commitment, the long term benefits of holiday homes can be fantastic as they provide great investment potential, a wonderful lifestyle and a permanent escape from the hassle and expense of holiday arrangements. A holiday home can literally pay for itself," he said.The survey also showed that 64 per cent of those considering buying abroad were planning to live abroad there permanently, with a fifth intending to move when they retire, and 17 per cent wanting to leave in the next five years.
Share this..
Related stories
Alliance Boots to outsource part of company pension scheme
Alliance Boots, the merged operation between Alliance Unichem and Boots, has today announced the outsourcing of its £300 million defined benefit pension scheme which was the old Alliance Unichem pension arrangement. This scheme has around 3000 members with liabilities of around £300 million although this is only a small portion of the company's overall pension arrangements. The assets have be...
Read MoreUK government looking to replicate Chapter 11 US regulations
The UK government is said to be considering a significant change in UK bankruptcy and insolvency laws could sway in favour of businesses and consumers as opposed to creditors. One of the main reasons why the government is looking into this particular area of the market is the fact that some £90 billion of leveraged buyout loans will become due for repayment by 2015. There is growing concern that...
Read MoreChildren now funding their parent's lifestyle
In a bizarre turnaround a report by Scottish Widows today has highlighted the fact that many parents are now struggling to survive financially and depending more and more upon their children. The report shows that in 2008 adult children gave around £6500 back to their parents who were struggling to make ends meet. However, the figure increased to £8250 in 2009 with 8% of adult children now helpi...
Read MoreBBC licence fee shakeup causes controversy
A report by Lord Carter, the technology Minister, is set to cause significant unrest within the halls of power at the BBC with a suggestion that part of the company's £3.6 billion licence fee should be directed to third party companies. In a move to introduce more independent TV to the UK Lord Carter is suggesting up to £100 million of licence fee income should be redirected towards independent...
Read MoreProperty market rush expected before stamp duty holiday ends
The UK government is tonight under renewed pressure from consumer groups in the UK with the forthcoming ending of the stamp duty holiday on 31 December. Under recent regulations introduced by the government, homes with a the value of under £175,000 will not attract stamp duty if the deal is completed prior to 31 December at which point the system reverts back to "normal". However, there are calls...
Read More