Expatriates looking to purchase a home abroad have a new form of help in the shape of an online tool created by Lloyds TSB International.
The tool operates in the same manner as their previously released international schools tool, with the property tool providing information and advice on international property prices and rent costs.
Research from Lloyds showed that expats are often burdened by often lengthy searches for appropriate accommodation, which can hinder the important settling-in period of a move, take up time that would be spent on more pressing matters, and also lead to greater expenditures than needed.
A Lloyds survey conducted in tandem with the creation of the tool showed that around 22 percent of the quizzed British expats spent more than six months searching for a new home when they first moved overseas, while five per cent spent over a year looking for a suitable home.
A further 33 per cent said that searching for a home delayed their settling in as expats. Also, 32 per cent to be out of pocket as a result of the delays in finding housing.
Lloyds spokesman Nicholas Boys Smith said: “Moving to a new home overseas can become an all-consuming experience for many people as they search for property and complete all the admin that comes with moving house. And doing this in a foreign country and often in a foreign language can make this more time-consuming still.”