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France still No.1 for Brits buying abroad

France still reigns supreme when it comes to Brits buying abroad, according to the latest research compiled by Conti, the overseas mortgage firm. The country is top of the list for the third year running, with an impressive 39% share of mortgage enquiries received by the company this year, but down by -4% compared to a year ago.

However, Spain is also returning in popularity amongst UK property buyers and in second place, it accounts for almost a third (31%) of enquiries received, up by 7% on last year, and by 9% since 2009.

Portugal, accounting for 12% of enquiries has moved into third position for the first time, enjoying a 5% increase on last year. A surge of enquiries during August meant that it beat Turkey, which has taken third place for the last three years, to the post.

Interest in Turkey declined slightly as it claimed 11% of enquiries compared with 18% last year.

The company also reported that interest has increased in Australia, Italy and Canada, but declined in the US.

Clare Nessling, Conti’s operations director, says: “Spain is definitely making a comeback, experiencing a particularly busy August.”

The company state: ‘Mortgage availability (in Spain) is generally good, despite the negative headlines about the Spanish property market. Mortgage providers still have a healthy appetite for lending, with maximum loan to values still around 65-70%.”

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