Downsizing can help those wishing to move abroad

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by Kay Murchie

With property prices in the UK experiencing record levels of growth in the last few years, the value of many Britons’ assets now allows them to benefit if they are looking to move abroad.

Property Sale Solutions has advised that releasing equity from a home or downsizing can provide older homeowners with an opportunity to move into the overseas property market.

A spokesperson for Property Sale Solutions said it’s about putting money in the bank and having the power to make choices and then spend it on what you want. Property Sale Solutions concluded that many older people had already paid off their mortgage meaning downsizing was more a better option.

According to Saga, the most popular locations for retiring abroad and relocation overseas are Spain, France, Turkey and Cyprus with retirement to Malta being a new applicant due to its EU membership and its beneficial tax status.