New data from mortgage specialists Conti Financial Services reveals that the number of overseas mortgage enquires made by British purchasers rose by 62 per cent in August.
The latest figures show that France is the most enquired about destination, with 43 per cent of all enquires asking about French mortgages, followed by Spain (36 per cent) and Turkey (10 per cent).
“Traditionally our enquiry levels tend to rise around now as people return home from trips abroad with dreams of owning their own place in the sun,” explains Clare Nessling, director at Conti. “But the uplift is even higher this year perhaps as a result of the UK’s hottest, driest and sunniest summer since 2006 inspiring even more people to invest in an overseas bolthole which they can escape to during the cold winter months.”
Nessling believes that it is not only France and Spain’s long-term popularity among British buyers which make them so appealing, but also the low property prices currently on offer in both countries, following years of price falls.
“Prospective buyers are still playing it safe when it comes to location with France and Spain still out on their own in terms of popularity,” she said. “And there may actually never be a better time to buy – bargain property prices, historically low mortgage rates, good rental yields and a stronger pound are all making it more affordable for British buyers right now.”