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On course for holiday home

Golf is a major factor in deciding where British people choose a holiday home, according to Norwich & Peterborough Building Society.

Its Spanish Home Loans arm says Valderrama on the Costa Del Sol – where there are over 30 courses – is the most popular area for villas.

N&P provides loans for homes along a 70km stretch of coastline between Fuengirola and Sotogrande, near Gibraltar where the society has a branch.

It says a typical borrower is in their 40s and mainly goes for detached villas with swimming pools or apartments.

Expat golfers do not seem to be handicapped by money, the society says the typical borrower buying a property in southern Spain spends up to £200,000 for their home in the sun.

Customers typically borrow just over 50 per cent of the value of the property, down from 60 per cent two years ago, with the average length of loan at 15 years, down from 17 years in 1999.

Head of communications Alison Rolls says: “The quality and availability of such a large number of golf courses is a leading factor in the popularity of holiday homes on the Costa Del Sol and who can blame them?”

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