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More Britons to find a mortgage abroad, experts predict

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Some two-thirds of mortgage brokers predict that an increasing number of UK residents will find a mortgage abroad .

Britons will increasingly look to mortgages in Spain, France and Bulgaria by 2020, an Alliance and Leicester study has revealed.

Because of this, almost half of the mortgage brokers surveyed expected to expand their operations into Europe .

However, one in seven also planned to operate outside of Europe, with Australia and the United States cited as possible hotspots for mortgages.

Mehrdad Yousefi, head of intermediary mortgages at Alliance and Leicester, believes that Europe will become the up and coming battleground for the UK mortgage community.

Pursuing the European and international mortgage markets will prove important for brokers who are seeing an increasing number of UK residents wanting to buy second homes in established overseas property markets such as Spain and France, he remarked.

However, Lisa Griffiths, the European sales and marketing manager for Taylor Woodrow de Espana, recently told the Mortgage Finance Gazette that trying to find a mortgage abroad can be a daunting prospect for many families.

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