Credit Crunch and Overseas Property 20 04 2008 - News Archive

Credit Crunch and Overseas Property

Lenders have reported a rise of up to 40% in the number of overseas property owners who are remortgaging the home abroad.

Many are taking advantage of the strength of the Euro against the Pound and recent changes in Capital Gains Tax. Others are looking to repatriate funds to offset the cost (and perhaps difficulty) of borrowing for their UK residency.

Around a year ago a 200,000 Euro overseas property would have been worth around £136,000. Today a 200,000 Euro property would convert to around £160,000 - a substantially increase.
 
:: Added on: 20:04:2008 ::

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