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People prefer paradise to a palace as their dream home

Posh and Becks&#39s mansion, labelled Beckingham Palace, has been named one of the UK&#39s most desirable residences in a survey by Abbey National.

Its Dream Home survey of 1,000 people carried out last month asked what home people would choose to buy if they won a big jackpot on the lottery.

In response, 13 per cent said they would move into celebrity couple David and Victoria Beckham&#39s property while only 2 per cent wanted to live at the real Buckingham Palace.

But Abbey says the Beckhams were pipped at the post by Necker Island, Richard Branson&#39s private tropical paradise, which 34 per cent chose as their top spot.

A swimming pool is the most sought after feature in a dream home, with 32 per cent putting that on their wish list. But Abbey says choices for a dream home are fairly modest, with 24 per cent going for a country cottage and 18 per cent preferring a bungalow.

Nearly a quarter, 23 per cent, said they would see money as no object to buy the house they want. But 40 per cent put an upper limit of £500,000 on what they would spend, even if they had new-found wealth.

Head of mortgage marketing Guy Aldwinckle says: “Owning a home is still a must for most Britons. This survey shows how most of us aspire to owning a dream property, with or without winning the lottery. With so many good mortgage deals currently available, more and more people are finding they can either remortgage on their current property or move to get a step closer to their ideal home.”


BIG in Europe

Online brokers battered by plummeting share prices are hoping to profit by working in partnership with the growing number of fee-based advisers, according to Self Trade managing director Peter Moores.He claims discount broker Self Trade has weathered the storm of the dotcom crashes that sent other online businesses to the wall by targeting fee-based IFAs. […]

Mortgages to remain &#39buoyant&#39

Financial professionals&#39 confidence in the mortgage market has slipped slightly but remains at its second-highest level in nearly eight years, according to a survey commissioned by Paragon Mortgages.The latest Financial Adviser Confidence Tracking index stands at 131.3 for the third quarter of 2002, down marginally from 135.5 for the spring quarter but still higher than […]

Abbey names ex-UBS man as new boss

Troubled banking group Abbey National has appointed Lugman Arnold as its new group chief executive.Arnold, who will take up his new role and a position on the board as of October 21, replaces Ian Harley, who left the company in June after a series of profit warnings.He has 30 years banking experience, most recently with […]

Pru and AbbeyNat in distribution link-up

Prudential and Abbey National are setting out their stall ahead of depolarisation with a deal to sell each other&#39s products.Under the agreement, Abbey will initially white-label the Pru with-profits bond until depolarisation, after which it will retain the Pru branding.The Pru will cease to manufacture protection products and instead white-label Abbey National-owned Scottish Provident&#39s products […]


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