One fifth of all the remortgages that are taken out in UK is for buying a second home abroad. Both having the advantage of taking out a mortgage, and also the economical opportunities resulting from the increase in property prices in UK, allowed many British people to be able to afford a holiday home abroad. The rising property prices in UK allowed many people to collect large sums of equity from their property. Only in the year 2003, the amount of equity released from UK homes were £57 billion. The same year also experienced low interest rates, which made the year 2003 the best year to purchase property abroad. However, still the amount of people who are remortgaging their properties in UK to buy abroad is increasing greatly. SunnyDays Properties would be happy to provide with the mortgage options for the property you decide on and help you with the paper work.