Research Reveals House Prices in Spain and France Leave Door Open for UK's Holiday Home Buyers

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The Post Office advises UK second home seekers how to avoid high charges on international bank transfers for overseas property purchases.

House prices in Spain and France - typically hotspots for UK property owners buying second homes abroad - were down 4.7 per cent and 4.3 per cent year-on-year respectively, recent research from Knight Frank has revealed, presenting a potential opportunity for UK residents interested in purchasing Spanish and French property.

The Post Office is reminding people that when purchasing a home abroad, it is often necessary to set up overseas bank transfers to pay regular bills and maintenance. However, many high-street banks can typically charge considerable fees for international bank transfers. The Post Office is advising those in the UK interested in buying an overseas property to consider the long-term upkeep costs of such a venture, particularly the fees they may encounter when sending money abroad to cover bills and mortgage costs.

The Post Office is advising those regularly sending money abroad that there are ways to avoid these international bank transfer charges. For example, the Post Office's Overseas Property Money Transfer offers a fast, easy and secure method of foreign money transfer between UK and overseas bank accounts. The Post Office does not charge for making an overseas bank transfer, offers 0% commission and makes sending money abroad convenient, as customers can arrange international bank transfers over the phone or online. 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.

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