Surge in overseas mortgage quotes

The holiday season may be over, but it appears that trips abroad this summer have inspired many of us to buy our own place in the sun.

Conti has just had its busiest month since the beginning of the year, with a 20 per cent surge in mortgage quotes issued during September. The value of mortgage applications submitted by the company to overseas lenders also rose to a year high.

Conti says that as property prices fall across Europe, the chance of owning a holiday home abroad may never be better, and with rates at an historic low, it’s even more affordable for British buyers. Whilst the ‘staycation’ trend may have reduced the number of Britons holidaying abroad this summer, many of those who did venture overseas have returned home with plans to buy their very own place in the sun.

Affordable prices, low interest rates, and a healthy appetite by overseas mortgage providers to lend, are all making it easier to buy property abroad. And there’s a growing feeling of confidence amongst prospective buyers, with savvy investors more willing to explore overseas opportunities in their search for better potential returns on investment than they’re achieving in the UK.