Bye bye, Blighty, and the best of British luck to you

Published 03rd Apr 2008

With rising fuel costs, council tax and food prices, it's hardly surprising many British homeowners are seriously thinking of selling up and moving overseas. According to the latest research by a foreign currency firm, an astonishing 24 per cent of those questioned claimed they intended to move abroad within the next year. The reasons given were topped by the cost of living, followed by Britain's crime culture, the weather and tax reasons.

Generally, you can buy a lot more home for your money than you could in traditionally popular UK escapefrom- it-all areas such as Norfolk, Dorset, Devon and Cornwall. House prices in those counties have seen enormous increases and much of the coastline from Brighton to Poole and beyond is a solid cliff-face of overpriced flats.

Estate agency Hamptons says there is a shortage of family homes for sale across the West Country and there has been a dramatic rise in the number of families deciding to rent in the area, driving up demand even more. With more than three buyers chasing every £1million-plus property in Somerset, no wonder Hamptons says that "buyer confidence in the country-house market is proving resilient to wider economic pressures".

Selling up in London, even in a slow market, could provide enough equity to buy a comfortable quality of life in a warm climate abroad and leave enough spare cash to live on.

Pensioners hit by the drop in the value of their investments are particularly attracted to the dream. Countries like Cyprus can often sound like Bolton-by-the-Sea. A new two-bedroom flat in Paphos, with communal pool and sea views, can be as little as £136,000 and the cost of living is cheap.
The Foreign Currency Direct, which commissioned the research, reports that one in five potential expats say they would miss the National Health Service more than anything else.

Even with its faults, at least the NHS is free at the point of delivery, says the over-fifties travel and lifestyle specialist Saga. Many retirees end up returning home because of health concerns. And once you are out of the UK property market, it is difficult to get back in.

Other points to consider, says Saga, include whether you want to keep a property toehold back home; what sort of climate and environment do you want? Do you want to escape from other British expats? And what are the possible effects of exchange rates on your pensions and other investments?

There are those, of course, who love the idea of buying abroad but hate having to give up old traditions. Christmas with the family, British beer, Branston pickle and roast dinners are all mentioned by the potential British bolters questioned by Foreign Currency direct. Obviously, no one has told them about expatboxes.com, which provides British fare to homesick expats. For £29.50 it will post the All Sauce Box containing Lea & Perrins, Colman's mustard and Bisto gravy granules, amongst others. There's also a £35 Bumper Chocolate Box. It's nearly worth leaving home for.

Source: ' Telegraph '

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