Posted: Thu Dec 31, 2020 4:16pm
While the requirements for permanent residency have siginificantly increased which I think will result in a drop in those opting to go down that route, there are plenty of options that could be considered. If you don't meet the income requirements you could drawn down equity from the UK to prove finances. (They don't check any UK assets or that they're unencumbered - it's generally cash in a Spanish bank as that's the easiest way for them to check). So you could also potentianlly raise cash against the Spanish home too accepting that age may not be helpful here in getting a mortgage.
Also, I think alot of people make the decision at a point in time near to when their pension (private) is due which you can use to draw down a lump sum which may make it achieveable at the point in time of the application. Yes, I think it needs more planning which will put people off, but I don't think it will be a dramatic curtailment. People may also simply opt down the 90 in 180 rather than full residency.
For holiday makers, while there's more requirements, it is not like any of them are above and beyond what you would normally have when going on holiday:
(i) a return ticket
(ii) cash to spend while on holiday
(iii) if not cash, most people I think will have some form of bank on their phone so could show statements on that
It also worth noting that the documentation as I recall also says they "may" request this info from people arriving. Not that they "will".