More second homeowners in eurozone releasing equity

10 January 2009

"People who have uncumbered properties are taking out the cash to pay off debts in the UK or buy property," said Simon Conn of Conti. "At the moment they are getting a 10% increase on what they are bringing back."

The terms for releasing equity from a home in the eurozone are currently favourable, with borrowing costs starting from under 5%.

More British holiday homeowners are taking advantage of the strong euro against sterling by releasing equity from their homes in the eurozone in order to pay off debts in the UK

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