NatWest finds Brits long for second home

31 August 2005
A significant proportion of British homeowners would love to have enough disposable income to invest in a second home, according to NatWest Mortgage Services.

The mortgage provider found that just under a quarter of British people would invest in a second home abroad if they were to gain an increased disposable income.

Almost a third of the homeowners questioned indicated that they would buy a house or upgrade to a bigger house, were their income to rise, NatWest has revealed.

Londoners were the most likely to buy a bigger house, at 33 per cent; whilst 29 per cent of those in the north-east would invest in a second home abroad, the mortgage lender discovered.

Charles Haresnape, director of NatWest Mortgages, commented: "People are becoming much more astute when it comes to buying property and finding a mortgage, and clearly a lot more demanding in bagging the right deal."

Brits are also decisive when it comes to securing their dream home: 62 per cent of those who have taken out a mortgage in the last five years spent three months or less searching the market before making an offer.

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