Brits take advantage of foreign property investments

Posted 2008-05-1

An international property specialist has reported an increase in people looking to remortgage their overseas properties.

Since the start of the year Assetz Finance has reported a 40 per cent increase in the number of Brits looking to remortgage their properties in France and Spain.

With it becoming increasingly difficult to secure funding in the UK, more residents are looking to take advantage of the European base rate and some attractive deals being offered on the continent.

Katy Hepworth, overseas mortgage manager of Assetz Finance, says that while servicing mortgages in Britain is one people are looking to remortgage, it is not the only one.

"Repaying more expensive UK debts is not the only reason overseas property owners choose to secure mortgages and release equity from their foreign properties. Many borrowers use the funds for projects such as further property purchases and renovation," she said.

Assetz is a property specialist, with interests in the UK and around the world.

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