'Pensions stretch further in Bulgaria'

The cheaper cost of living in Bulgaria is likely to appeal to "asset-rich" Brits making international money transfers, according to industry experts.

Property magazine Quest Bulgaria recently reported that the region has seen an influx of younger UK emigrants who have been attracted to the affordable lifestyle the region offers.

The publication explained that despite experiencing short-term confusion with bureaucracy when buying houses in the country, Brits are adjusting well to their new environments.

In addition, as many have sold their UK homes they are likely to have more funds to make money transfers to pensions, which will stretch further due to reduced lifestyle costs.

"Of particular significance is the level of pensions in England, which may be low in relation to the English income distribution but which are relatively large in relation to Bulgarian incomes," said the magazine.

Shelter Offshore recently reminded expats to make money transfers to life insurance properties to safeguard their assets.

Click here to make an International Money Transfer.

By Linsey Summers