How will I be Affected by Britain Coming out of EU if thinking of Buying a Property to Retire to?
We are preparing a formal view on Brexit but we received this query today and it may help to see our answer.
” Hi I was getting ready to buy a home to retire to in Villamartin but a little bit unsure how this would affect me now with us coming out of the EU. I would most appreciate any help you could give us thank you”.
This was our answer:-
Good afternoon,
I understand your concern and uncertainty, however our recommendation is to focus on your long-term objectives with regard to buying a property to retire to, think why you wanted to do this and maybe it will help you with the decision . I doubt that the present uncertainty changes your long term plan.
From a legal point of view, the referendum outcome is not legally binding and the UK has up to two years to leave. Parliament has to ratify the decision and as you know there has been quite a backlash to the vote anyway. There could even be a strong demand for another referendum. But anyway, it would be expected that the government would enter into a period of negotiation with the EU over the terms of our exit and with a new Prime Minister needed, elections in European countries next year, it is going to be drawn out and there is plenty of time for all matters to be addressed that affect the British in Spain.
Nothing will change for expats in the EU until the withdrawal process is over and as this is untested and complicated it could be two years or even be extended longer than that.
All the rights and obligations of Expats in the EU continue in the meantime, healthcare, legal matters etc, so although people are understandably worrying it could be a very long time before anything changes, and it is possible, if not probable, that many special agreements will be made between the UK and Spain as it is in neither´s interests to have problems.
We asked our solicitor and he said “I don´t think Brexit will affect the status of the British in Spain”.
We are seeing our clients asking the same questions as you but proceeding with their long term plans, but just wanting to be kept informed of anything that may affect them. We have a monthly newsletter so please confirm if you would like to be added to our mailing list?
Please let me know if this helps and call if you wish to chat.