Britons moving abroad to enjoy cheaper living costs
04 October 2007
Many Britons are thinking of moving abroad to escape the high cost of living in the UK, according to a new poll.
A study by currency specialist HiFX found that some who were financially stretched by rising property values and interest rates were considering relocating to another country instead.
Respondents to the survey cited a number of concerns, such as struggling to meet mortgage repayments and the overall economic climate in the UK.
Many people have also been put under increasing financial pressure by the rising cost of borrowing, as interest rates have risen five times in the last 14 months.
Commenting on the findings, HiFX director Mark Bodega said: "It would now seem that more and more people are no longer considering emigration as a luxury but a necessity."
Younger people were found to be especially willing to move overseas on a permanent basis, with countries such as France and Spain the most popular options among 25 to 34-year-olds.