Look to the coast for a second home
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by Kay Mitchell
For many years, Britons have taken pleasure in travelling to the coast for a holiday and in recent years, people are buying a holiday home at the coast instead of overseas. Many do not want the hassle of buying abroad, many prefer to buy a home or a second home by the seaside in their own countries.
Recently, the Spanish property market suffered a severe shortfall in homebuyers so Britons are drawn towards its own coastlines which have noted some of the highest rises in property prices. Popular areas include the south east, Wales and Brighton.
A spokesperson for Natwest Mortgages commented that there are good financial reasons for these moves. In addition, people are making their money go further by re-mortgaging their current home to fund a move for a less expensive property.
Furthermore, the vast majority of British seaside towns have undergone regeneration. Towns such as Hastings in East Sussex and Filey in North Yorkshire are going through massive alterations and could be seen as good investments as people get competitive mortgages, loans to renovate and redecorate and then sell on the holiday homes once property prices have peaked
Specialist second home insurance can be obtained at Asda Home Insurance and Intasure.
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