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Spain is top hotspot for foreign property

Research conducted by Moneynetinternational.com shows that Spain is the most popular destination for people wanting to buy a property abroad.

In the first three months since the launch of their Global Mortgage Service, research shows that 21.25% of all worldwide enquiries made were for the purchase of a property in Spain. The second top destination was the UK (18.75%) followed by France (10%).

Nearly 65% of all the enquiries received were from UK based users, with the remainder of enquiries coming from the US, Hong Kong, Sri Lanka, Japan, Southern Europe and the Arab Emirates.

Desired location of property:

Spain 21.25%
UK (incl Ireland and channel is) 18.75%
France 10.0%
Italy 6.25%
USA 5.0%
Cyprus 3.75%
Thailand 2.5%
New Zealand & Australia 2.5%
Canada 2.5%
Czech Republic 2.5%
British Virgin Islands 2.5%
Grenada 2.5%
Mauritius 2.5%
Barbados 2.5%
St Kitts 2.5%
Trinidad & Tobago 2.5%
Cayman Islands 2.5%
Holland 1.25%
Norway 1.25%
Germany 1.25%
Malta 1.25%
Japan 1.25%
Crete 1.25%

Moneyinternational believe that the results of the research - which is based on the period November 2001 to February 2002 - proves that there is a strong worldwide demand for the Global Mortgage Service. This is a facility that can provide UK Expats and international investors a way to invest in UK or overseas property.

Richard Brown, MD of moneynetinternational.com, says: "The research proves that there is a strong worldwide demand for our Global Mortgage Service. We are excited with the success of this unique new service and we strive to continue bringing exclusive products and services to our users."

Some highlights of the service include:

• Maximum borrowing 80% loan to value
• Some circumstances loan to value can be increased to 100%
• No early repayment or letting penalties
• Free Currency Switching - where loan is under 75% of property purchase price or valuation, you may borrow in any currency. To borrow over 75% loan to value, you have to borrow in the currency where the property is located
• Range of repayment vehicles - Capital & Interest, Endowment, Pension Linked or Savings Linked Mortgages available.
• Advanced Credit line service - this will provide you with an idea of who much finance you have available to you without making a financial commitment.
• Equity Raising
• Umbrella Finance available for Property Portfolio Building - one mortgage for more than one property in more than one country.

Visit http://www.moneynetinternational.com for further information

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