With savings rates low and the housing market in the UK picking up, more of us are considering buying abroad

For years Spain has been the country that most Brits choose to buy in, but – according to specialist mortgage brokers Conti, France is now the most popular country. While Spain has suffered from dramatic price falls in many areas, the French property market has been far more resilient. But with the pound falling sharply against the euro compared to a couple of years ago, your money won’t go so far.

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Most people who buy a property abroad need a mortgage and these days that normally means a loan with an overseas lender

A few years ago, remortgaging your home in the UK to release cash was used by a growing number of buyers to finance buying a property abroad. It made sense – especially for those who weren’t planning to rent out their overseas property and who therefore wouldn’t receive income in a different currency. But in today’s tough mortgage market, homeowners are reluctant to increase their borrowing and falling prices mean they may not have enough equity to borrow more in the first place. That means that taking out a loan in the country you’re buying in is now the favoured option.

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