Would-be first time buyers 'prepared to move abroad to save'
12/03/2007
Spain, Australia, New Zealand and the US are the preferred destinations for Britons who wish to move abroad in order to save for a mortgage in the UK, it has emerged.
According to National Savings & Investments (NS&I), 25 per cent of Britons would consider moving abroad so that they can get involved in the home buying process in the UK.
Would-be first time buyers would also contemplate moving within the UK to boost their savings, the research states, with 24 per cent of them happy to live in cheaper parts of the country while they save for a mortgage and deposit.
Dax Harkins, senior savings strategist at NS&I, remarked: "British people clearly have a great appetite for buying a property in this country but find it difficult to save for a deposit while living here.
"It seems many will go to extreme lengths to achieve their goal, even if it means moving to the other side of the world in order to save up for a deposit back home."
Recent research from financial services company Axa suggested that the average Briton considers their pension before getting on the property ladder.
According to National Savings & Investments (NS&I), 25 per cent of Britons would consider moving abroad so that they can get involved in the home buying process in the UK.
Would-be first time buyers would also contemplate moving within the UK to boost their savings, the research states, with 24 per cent of them happy to live in cheaper parts of the country while they save for a mortgage and deposit.
Dax Harkins, senior savings strategist at NS&I, remarked: "British people clearly have a great appetite for buying a property in this country but find it difficult to save for a deposit while living here.
"It seems many will go to extreme lengths to achieve their goal, even if it means moving to the other side of the world in order to save up for a deposit back home."
Recent research from financial services company Axa suggested that the average Briton considers their pension before getting on the property ladder.
