Watch out for the devilish details when buying a holiday home abroad

Costs and ongoing fees could severely dent your income when you buy a holiday home to let abroad.

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Your own place in the sun what could go wrong?
(Image credit: Credit: Jose Pedro Fernandes / Alamy Stock Photo)

You might find it hard to muster much sympathy for television presenters Ant McPartlin and Declan Donnelly. The presenters are reportedly at risk of having their million-pound villas repossessed as the bank that financed the now-insolvent developer behind the resort seeks to recover its losses. The Portuguese state-owned bank Caixa Geral de Depsitos is owed nearly £250m, and is first in the queue to reclaim its debt. But the news provides a useful warning about investing in property in overseas holiday resorts.

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Sarah is MoneyWeek's investment editor. She graduated from the University of Southampton with a BA in English and History, before going on to complete a graduate diploma in law at the College of Law in Guildford. She joined MoneyWeek in 2014 and writes on funds, personal finance, pensions and property.