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Expats in Spain holding on to UK home

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People from the UK who move to Spain often choose to retain their property back home, experts have noted.

According to Insure My Villa, a provider of overseas property insurance, deciding what to do with their home in the UK is a "common conundrum" for a lot of expats.

However, the organisation noted that a considerable number are opting not to sell up, even if they will not be living there full-time.

As a result, these people could need to transfer money to the UK on a regular basis in order to keep up with necessary expenses, such as home insurance and mortgage payments.

Insure My Villa noted that Spain is currently home to a large number of expats from the UK. This, it said, means that Britons who decide to make the move can find there are lots of support outlets available to them, both locally and on the internet.

"It's likely that when moving to a popular Spanish location, you'll find that you're not too far from the next expat," the company observed.

Insure My Villa said this could be particularly advantageous for parents who are taking their children with them.

"Spain stands out as a top location due to the already existing expat communities," it commented.

"This will enable children to more easily find friends and therefore settle in comfortably."

Insure My Villa added that many factors have enabled Spain to establish itself as a popular destination for Britons who want to move abroad.

For instance, it said Spain boasts excellent weather, first-class food and a very relaxed culture. The company added that expats from the UK rarely regret their decision to move to the country and believe it has been good both for them and their families.

Spain was recently identified as a popular destination among overseas property buyers from the UK by foreign exchange specialist HiFX, which said this is partly because its economic problems have led to house prices dropping in many parts of the country.

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