Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

UK Homeowners Feel Buying Abroad Saves Money

According to a new study from Barclays Buying Abroad and YouGov, 41 per cent of the nation take a holiday at a flat or house abroad owned by someone they know. More than one in ten admit that they maintain a friendship to give them access to a holiday property.

Barclays Buying Abroad reveals a surge in Brits purchasing property abroad. They estimate that UK holiday makers save an annual £4 billion by using friends’ and family’s foreign property.

These properties are offered as free accommodation to friends, drastically reducing the cost of a holiday. In fact, more than half accept the free offer of accommodation only repay their hosts with nothing more than a “thank you” card, a bottle of wine, or a box of chocolates. Less than 10 per cent offer an equal-value gift to their hosts.

Richard Exton, Head of Barclays Buying Abroad says, “Buying abroad either as a permanent home or a holiday destination is now easier than ever before. The market is flourishing and many more Brits are taking the plunge and purchasing – either as a buy-to-let, a permanent home or just somewhere they can holiday with friends and family.

We are seeing record numbers of enquiries and purchases in Spain, France, Italy and Portugal, as Brits are realising the savings that can be made on holidays by purchasing property abroad. It’s great to see that the pleasure of owning a house or a flat abroad is being enjoyed by not only the owners but their friends and families too.”

Many homeowners maintain foreign property as an investment, or as part of their retirement plan. Many homeowners hope to repay their mortgage and then sell their UK properties for enough money to sustain a comfortable retirement in another country. Until then, the property is offering a low cost vacation, saving money on both vacations and mortgage costs, and building equity for the homeowner.

Published on September 23, 2007

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Lending Falls Again Says CML

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