Overseas mortgage enquiries up by 62 per cent

  • 11 years ago
  • Uncategorized

New figures have revealed that the demand for overseas property is still strong, as mortgage enquiries rose by 62 per cent during August.

According to easier.com, overseas mortgage expert Conti has found that British property buyers still prefer to purchase properties in France and Spain.

France was the most popular destination choice, with 43 per cent of enquiries this year belonging to French properties. Spain closely follows that figure, accounting for 36 per cent of enquiries. Turkey came in third after seeing enquiries increase from six per cent to ten per cent this year.

Although yourmoney.com reports that the gap between French and Spanish property could be closing, as enquiries in Spanish properties have increased by three per cent – but enquiries in French properties are down by two per cent, compared to the same time last year.

Director at Conti, Clare Nessling, said that the increase in mortgage inquiries could be down to a particularly hot summer.

“The uplift is much higher this year, perhaps the result of the UK’s hottest, driest and sunniest summer in the UK since 2006 inspiring even more people to invest in an overseas bolthole which they can escape to during the cold winter months,” she said.

Ms Nessling added that cheap property prices and low mortgage rates make it an ideal time to invest in overseas property.

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