Over 50s 'being forced back to UK by prices'

Over 50s living abroad may be being forced to return to the UK due to unfavourable exchange rates, according to new research.

Unfavourable economic conditions for over 50s living abroad are causing many to return to the UK, according to new research.

New statistics published by currency exchange provider HiFX has revealed that retirees and older people have been converting larger amounts of dollars and euros back into pounds than any other age group.

According to the firm, this suggests that older expats are being forced to return to the UK due to the negative impact recent exchange rate fluctuations have had on the value of their savings.

However, Mark Bodega, director at currency specialists HiFX, stated that there is an upside to this, as many over 50s with overseas holiday homes can benefit from the relative increase in their property's value.

He said: "Many older Brits have made money on their overseas property and are choosing to cash in their international assets now in order to make the most of sterling's depreciation."

This comes after insurer Aviva last month called for over 50s to put a number of retirement finance sources into place, including options such as property investment or equity release.

To view businesses and services in our Finance section click here

Homebase is the UKs second largest home improvement retailer and is recognised for choice, style ...
Silver Travel Advisor
Have your say and you could win a Greek Island villa holiday. If you like holidays and ...
For some of the most talked-about TV, get Sky TV. In all, we've 100+ digital entertainment ...
Make a Will Online
Make a Solicitor checked Will Online with Gloss Legal
Travel News
All-inclusive holidays 'offer value for money'
Finance News
Recession 'causing problems for over 50s abroad'
Dating News
Online dating 'can give over 50s another chance at love'

We Luv Sweets
New Zealand Holidays
Kirra Tours 100 Percent Kiwi New Zealand Holidays by New Zealanders. Although larger than the UK, New Zealand has a ...
The only prostate supplement with 100% pure Beta-Sitosterol