A Bargain Abroad

Published: 18/11/2011

As winter begins to wrap its icy fist around us, daydreaming takes a turn to warmer pastures. However, even in the midst of the European debt crisis, owning overseas property is not as crazy an idea as it seems. In fact, with low interest rates and high mortgage availability, it has never been more affordable.

The ever popular holiday home destinations – France, Spain and Turkey – are particularly affordable. In France, it is possible to get a mortgage for around 2 per cent with no deposit¹ whilst in Spain the increased number of repossessions means banks are able to offer some low rates to get these properties off their hands.

But the idea of buying a house abroad is no secret; in August alone there were 2.5m searches for overseas property¹. According to World First, a currency exchange specialist, the number of prospective buyers completing transactions has increased, suggesting the calibre of buyers has improved.

Goldsmith Williams Overseas Limited (GWOL) can help put you in touch bilingual lawyers, who specialise in the conveyancing laws of the country where you are interested in buying a property.

¹Mortgage Strategy (Nov 11)

Content correct at time of publication

Show All Articles