News & Insights

Save or borrow?

According to the survey nearly one in three homeowners use equity in their homes to holiday. Visits to English speaking countries such as the United States, Canada, Australia and New Zealand are among the most popular retiree holiday destinations, perhaps because many of the borrowers have family in these countries.

However, it should be considered that releasing equity in this way comes at a cost. In fact, many fail to repay their loans until their houses are sold. It is clear that having a strategy to ensure sufficient expat regular savings can help avoid this pitfall.

Naturally, it is homeowners in the areas of the UK with the highest value house prices – for example, London, Sussex and Surrey – who are most likely to borrow against the value of their homes.

“Whether it’s jetting off to exotic climates, purchasing a holiday home or visiting relations in far-flung corners of the world, property wealth is providing the opportunity for over-55s to visit places they have previously only dreamed of. It is also enabling many to have a second home in the UK or abroad, which for many would not be possible without access to the wealth tied up in their main homes,” said Mirfin.

According to the Association of British Insurers, last year nearly 4,000 people withdrew 10% or more of their expat regular savings in the past year.

Other News

Healthcare in France for expats

Pharmacy sign in FranceFrance is the world’s most visited country, with over 89 million tourists pouring in every year to sample the many attractions it has to offer. Its culture is known and revered around the globe: couture fashion houses, the art of the impressionists, winemaking and of course, French cuisine. Paris, the capital city, sees over 17 million visitors yearly, who come to take in the sights of one of the world’s most beautiful cities. But tourism isn’t the only thing that France does well; it also regularly scores highly in global polls for quality of the healthcare system.

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The safest European cities

Windmill in the NetherlandsWhat would you look for when choosing a destination to move to abroad? A sea-side location with warm weather all year round, lots of culture and opportunity for adventure, perhaps? Or a place with a great economy and plenty of career prospects?

We guess there’s one key issue for almost all expats, though, and particularly for those moving abroad with young families, and that would be safety. Large cities can sometimes be dangerous places, so it’s good to know which have robust security and protection systems in place.

Luckily, The Economist Intelligence Unit has made it very easy to determine the risks by compiling a comprehensive study entitled the Safe Cities Index.

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