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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.

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