UK investors attracted by additional rental income from overseas property

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The Post Office offers competitive service for overseas home owners making regular international bank transfers

Thirteen per cent of overseas property owners find that rental income generates a 'comfortable profit', with 20 per cent of respondents citing that annual rental income from their overseas property exceeds £16,000, according to a recent report from Savills .

The report also revealed that overseas properties generate on average between £650 and £700 per let week , a proposition which could be attractive for UK residents looking to invest abroad. However, the Post Office advises anyone looking to invest in a second property abroad to be aware of the additional costs that could be charged when making international bank transfers through many UK high-street banks.

The Post Office advises buyers that by shopping around they can make savings on international bank transfers when sending money abroad. Foreign money transfers are often vital for second home owners when organising the practicalities of an overseas home purchase, such as making mortgage repayments.

For customers who need to send money abroad regularly, the Post Office offers the Post Office International Payments service, which features 0% commission and no fees when sending money abroad, as well as competitive exchange rates .

The Post Office also reminds customers that sending money abroad does not need to be an intimidating process, as the Post Office International Payments service is available online or over the phone, making international bank transfers a straightforward way of sending money abroad for all the necessary payments involved in purchasing a second home.

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