"Foreign exchange specialist" advised for overseas investors

Brits who are considering buying property abroad have been advised to consult with foreign exchange specialists before they make any purchases.

The Association of International Property Professionals (AIPP) recently stepped forward to highlight the risks associated with acquiring overseas assets.

Paul Owen, chief executive of the AIPP, explained that potential UK emigrants ought to research the property market of their chosen country prior to buying a new home, as interest rates may have a significant impact on their loans.

"Rate fluctuations will affect both the costs of mortgages and the value of your investments and benefits," he said

"Speak to a foreign exchange specialist to highlight the risks and to take appropriate action."

In addition to investigating the housing market of their destination, Brits are advised to spend time researching the companies who will help them purchase their investments.

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Linsey Summers