Recent research has found an increase in people looking to purchase foreign holiday homes. March 2010 saw a 48 per cent increase in prospective international buyers taking their mortgage quotes thorough to application stage.

With this in mind, Post Office Overseas Property Money Transfer is advising UK residents keen to purchase a holiday home overseas to be wary of hidden costs when it comes to sending money abroad via an international bank transfer. People using these can sometimes incur large commission charges or receive unfavourable exchange rates. With some research and shopping around, the Post Office advises customers to ensure they are not paying out unnecessarily in hidden charges by carefully checking the small print when considering which foreign money transfer to use.

The Post Office now offers a service that doesn't incur any hidden charges for customers when sending money abroad using international bank transfers.

Customers can gain competitive exchange rates through this service offering 0 per cent commission and no hidden charges on international money transfers. When it comes to purchasing a property abroad, these savings on foreign money transfers can ensure buyers don't lose out through unnecessary charges.

The Post Office's Overseas Property Money Transfer service allows customers to fix an exchange rate for up to a year for all international money transfers. This will help UK residents get the best deals on their transfers and also have peace of mind that they are not incurring unnecessary international currency transfer charges.

• One third of all those considering buying property abroad are looking to emigrate permanently, according to recent research by Primelocation International’s MyHomeLife Panel.

By contrast only 23.7 percent were looking for an overseas holiday home and 12.4 percent were searching for an investment property.

Perhaps surprisingly given the uncertain economic outlook, barely one-fifth (20.4 percent) of respondents said that the difficult economic climate has affected their intention to buy abroad and only 9.8 percent agreed that they were having to be realistic and search for property in locations that they would not otherwise consider, due to affordability constraints.

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