Continuing financial pressures in the UK are prompting many Scottish people to consider emigrating, a survey has found.

According to a Legal & General Study, nearly one in five Scots are prepared to leave the country in order to avoid the effects of the credit crunch.

Only three per cent of those surveyed said they consider themselves well off, while most respondents raised concerns about the rising cost of living in the UK.

Speaking to the Scotsman, Mark Wallace of the Taxpayers Alliance said: "This is a shocking indication of how inhospitable this country has become for ordinary people trying to make a living."

Tim Warren, spokesperson for Legal & General, added that he was very surprised by the findings.

He said it is "startling" that so many people from Scotland would be prepared to pack their bags and leave the country for sunnier climbs such as Italy and Spain.

Last month, a poll of expatriates by NatWest revealed that the vast majority believe they are financially better off now that they live abroad.
 

British investors have been told that the current downturn in the property market could make a foreign investment a better option.

The Telegraph stated that house prices in the UK are currently falling and are not likely to increase significantly in the foreseeable future.

By contrast, it stated that many foreign countries are seeing considerable growth in their housing markets, which means that properties are appreciating in value.

As some of these places also offer much cheaper housing than the UK, investors could be able to snap up a cheap property and sell it on at a profit.

This means that many of those who have been priced out of the domestic housing market could find themselves able to afford a deposit for a British property.

The Telegraph commented: "UK property prices show no signs of lifting in the near future - quicker gains may be found by investing overseas."

Meanwhile, the Sunday Mirror has reported that more and more British first-time buyers are choosing to enter foreign property markets.

According to the newspaper, many have been supplementing their wealth by letting their residence out to tenants.