Brits mulling overseas property investments

More and more Britons are eyeing property investments abroad, as the domestic market becomes less secure.

According to research conducted by Cater Allen Private Bank as many as three million UK residents could be making a foray into a foreign property market over the next two years.

Those aged over 45 were revealed to be the most likely to be considering this move, with 17 per cent mulling an investment in the next two years.

The key driver of the trend is thought to be the instability in the UK market as well as domestic lenders'' reluctance to provide mortgage loans.

Marketing manager at the firm Sally Watts said: "With concerns that a deteriorating property market will not guarantee the returns that people expect from buying a property, more and more people are investigating how they can find investment returns elsewhere."

Cater Allen claims that there are currently 2.3 million Britons who own property overseas.