Brexit Confusion - Page 3

It is - or was - the 1949.

Thank you. Most helpful 

KR

Andy 

You link is in regard to Barclays only.

I would also question the claim that 

"Most of the retired expats use their credit card in Spain and get their pensions paid in the same account."

Firstly I doubt 'most' expats have Barclays accounts an secondly of those who do I can see them having pensions paid into a current account but a credit card account, no way Jose! 

I understood it to be Barclaycard and not Barclays Bank.

https://personal.natwest.com/personal/current-accounts/nonuk_eu_residents_hub.html

https://www.bba.org.uk/customers/personal-banking/current-accounts-personal-banking/bank-account-access-in-the-uk-for-non-residents-2/

https://www.moneysavingexpert.com/news/2020/09/thousands-of-british-expats-face-uk-account-closures/

Yes sorry I maybe didn't make it clear, the EU want to stop criminals rich people and politicians having off shore accounts in order to hide money from the tax man and other fiscal police. At the moment the onus is on the banks to do this and although Barclays bank have announced this is going to happen all the others are expected to follow suit. they have not yet excluded anyone, but you should no longer be able to open accounts outside the EU as a resident. This wont stop criminals rich people and politicians having off shore accounts. You can move to the uk, buy a house on the uk, use a go-between or just lie about it. 

I've put a few more links on but if you want to find out for definite speak to your bank and that will save them the trouble of finding you. ;)

Hola Una,

I haven’t read all of the replies but decided that I’d reply even if somebody else has made the same suggestion.

Una,  the tax allowance in Spain is nowhere near that of the UK. Check it out.  Financially, you are better off by far  

Free healthcare... invaluable

You don’t have to move to Spain to enjoy your dream.  You could rent for 3 months at a time and spend the winter away and return home when Spain becomes unbearably hot. 

Remember, it’s a dream and not reality. You think you know what life would be like living in Spain but in reality, it could be different.  Keep your home and go to different areas of Spain initially until you find the ideal place for you.

Take your time.  It won’t make any difference when you decide to go because once the U.K. has left the EU, it will be the same process.  

Free and wonderful healthcare is invaluable.  Nobody knows when we are going to need it. 

The cost of living in Spain definitely is less than home. Bureaucracy in Spain is not good.  We own a house both in Spain and at home but looking after the Spanish house is a minefield. You decide to do some minor work on it and you cannot without applying for a licence( more money). Property doesn’t seem to increase in value the way it does at home. Perhaps you could use your savings to buy a small property before leaving for Spain. That way, you would have a bolt home should you become homesick or want to escape the heat.  Please try before buying/moving.  I often feel sorry for people who have come over here to retire and enjoy the climate and lifestyle, sold up and moved permanently. Time passes and they become older, one or other of them becomes ill and they would like to return home but can’t. Yes, home is Spain but there may not be any family nearby to offer support. It’s permanent and many still don’t speak the language.  Imagine ending up in an old people’s home here and not speaking the language. Not a good thought. Of course, there may be English speaking homes, I don’t know. 
I don’t intend to paint a gloomy picture, I would like you to realise that you can have the best of both worlds which we have. I love being at home and I also love being in my Spanish home. 

Your dream is still achievable!  

Hola Granny Rose, thankyou for taking the time to respond. You have provided me with valuable information & I will definitely take into consideration by giving serious thoughts to what you have advised. As it happens myself & my husband have said we could instead either buy a little one bed apartment to holiday too, depending on the backlash of Brexit of course, & if that is not to be because of any penalties we would bear the brunt of then to stay in the uk but enjoy our retirement with extended holidays abroad. We only rent in the uk, reason being was of this dream & other factors in life. We were never going to be a couple fortunate to own two homes, ie one here & one in Spain so had always said rent & then go & no ties here. However, with everything changing & all the confusion it is now feeling that it was just a dream. I dont want to make a mistake after sacrificing so much & saving hard so I know I will take the advice you have kindly provided & be sensible as you have made some very good points. Thankyou, I really do appreciate it!

Hola again Una,

Please don’t let Brexit annoy you, life will continue on the same way it did when we were all given doom and gloom at the millennium and nothing happened!  The UK will grow stronger and stronger, watch this space. It’s a powerful nation and no matter what all these doom and gloom era say, all will be well. Wait and see.  It is my belief and that of experts, that the pound will revalue and become strong again. It may take a little time because of this pandemic but it will happen. Yes, you could buy a little place quite cheaply but believe me, you will be handing out money constantly for the pleasure but should you rent, you are a winner.  I’d go as far as to suggest you buy a little place at home which will be a good investment fir your future. Don’t buy here, rent.  The owner has to replace white goods, pay Urbanización costs, sums, insurance,upkeep. Listen to me and Rent.  

It is my firm belief that in due course the government will launch a big investment scheme with a good financial return for investors to cover the cost of their massive loans.  People will invest and get a good return for their investment instead of putting their savings into the bank and getting nothing for it.

You could buy a property on the coast and rent it. You would probably find that you won’t want to go away, you would love your new life living in a coastal place at home. This year has shown people how beautiful our country is. Talk together and think outside the box. The future is yours, so be wise in your choice of what and where you plan to do.  You know what they say, there’s no place like home! You could rent over here for €350  a month off season. Get a feel for life here. It’s wonderful but it’s better when you can have a foot in both camps!  You can do it Una. Just do it so that it’s perfect for you both. 

Granny Rose, you are delightful to listen to & very wise. You have filled me with hope & excitement. What is really funny is you sound just like my husband. Thankyou for your support & advice, I confirm to you I am listening. Your words have been noted & I sincerely appreciate the time you have taken in responding. I know what is/was wrong with me. It is & has been sheer panic with the changing world....ie. life time plan, brexit & then rise in retirement age all blocking & extending my goal. It was devastating for me when I found retirement age has now moved to 67 so that added to the frustrations.

Kindest regards

Una

Hi Una,

I am pleased that I have been able to help you. Anytime you need help, please message me. It’s very easy to get into a state. Don’t rush into anything that’s important. Take time to think it over. Sleep on it. Everything is different after a good night’s sleep. If you allow life to stress you out, you will undoubtedly make yourself ill. I don’t believe in worrying. It’s a waste of time and destructive. Try to stay positive, remember, you’re in control of your life and it’s vital that you keep a steady hand on the helm. Choose your course, plan the direction best suited to you, double check and you should arrive safely!  It sounds easy and if you plan wisely, it should go according to plan. Lean on your husband, he sounds like a solid man.

 Put all this aside and put your energy into having a wonderful Christmas together and with your friends and family.

 All the best.

Rosemary.