Natwest: Expats not deterred by recession

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Natwest: Expats not deterred by recession

Brits who own property abroad are well-positioned to ride out the recession and do not see it as a significant threat to their finances, according to a new Natwest poll.

The survey found that the vast majority - 87 per cent - believe their finances will survive the economic downturn. A further three-quarters said that the recession will not force them to move back to the UK.

Job security is was also found to be another aspect Brits abroad are not too worried about - just 14 per cent said they think losing their jobs may be a possibility.

Head of Natwest International Personal Banking Dave Isley stated that the ambitions of Brits to live abroad in sunnier claimes is one that it still "alive and kicking".

Mr Isley added: "It seems that, despite the obvious financial concerns shared by many at the moment which vary from country to country, many expats feel much better prepared to weather the financial storm abroad."

However, those thinking of moving abroad at present should not use fluctuating exchange rates as a gauge for a country's economic strength, according to the advice of Liam Bailey, director of PR firm Write About Property.

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