Paying over the odds for your mortgage?

Brighton, UK (SANEPR.com) July 22, 2008 -- Many people buying abroad are paying over the odds for their mortgages, it has been reported.

Finco Financial Services have carried out a poll in which it found that more than 78% of people who took a mortgage recommended by their estate agent abroad, where paying over the odds.

It has been reported that the main reason for paying massively over the odds for mortgages abroad is that people are failing to see the importance in shopping around and most have said that this is due to the language barrier.

Finco Financial have warned that many will be paying much more for their mortgage repayments, because they do not shop around the way they do in the UK or Ireland.

This comes to light as a study has revealed that people in the UK and Ireland own more than 3.8 million homes in other countries, with Brazil coming up fast as a top non-euro destination to buy. With this in mind, it is vital that people take more care and time when investing in property abroad.