UK housebuyers are flocking to French and Italian ski resorts to buy alpine holiday homes, according to Abbey National.
Abbey says it has seen demand for mortgages in France nearly double in the last 15 months, with the majority of loans being used for holiday homes on the slopes.
The bank attributes rocketing chalet sales to the increasing numbers of Britons who go skiing every year and estimates that 1.5 million Brits have already gone on the pistes this season alone.
Abbey says UK buyers are finding alpine homes in the top resorts more affordable than they thought, with the tendency of skiers to return to the same slopes year after year and mortgage rates in France starting at around 4.45 per cent.
Abbey managing director (France) David Wells says: “Abbey France has witnessed record mortgage sales over the last year and the Haute Savoie and Alpes Maritime ski areas in France have attracted many UK buyers.”