Spain and France Are the Most Popular Destinations for UK-owned Overseas Property

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The Post Office advises second home owners can make savings when sending money abroad

The top five holiday destinations favoured by UK travellers are Spain, France, the US, Italy and Portugal, according to research. Not surprisingly, these destinations also account for 60 per cent of UK-owned holiday home locations, with Spain and France being the most popular .

As many as 6.5 million people across the UK dream of buying a second home abroad, but relocating to another country can require a great deal of financial organisation, such as setting up regular foreign money transfers to send money abroad for mortgage payments and utility bills.

According to research from the Post Office, Spain, France and the US top the list for the most frequent destinations for UK residents' foreign money transfers . With many UK high-street banks typically charging commission when sending money abroad , the Post Office recommends people shop around in order to save on charges when sending money abroad.

For example, the Post Office's Overseas Property Money Transfer service enables customers to make international bank transfers with zero per cent commission. Customers using the Post Office service for foreign money transfers can also be reimbursed for any charges that the destination bank may impose on the international bank transfer.

To make the prospect of sending money abroad less daunting, the Post Office also offers expert guidance by phone throughout the process of foreign money transfers.

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