Returning home from Spain
Oct 2nd 2018, 5:59 pm
#1
Just Joined
Thread Starter
Joined: Oct 2018
Posts: 2
Returning home from Spain
my wife and I are both 81 years old have great grand children back home in Kent ,our home is up for sale in Spain busy packing,now we have been informed in gillingham and rainham Kent there are houses being sold for people over 50.large list to see ,can you advise us on sending our money back home to the ?loyds bank in gillingham high street,making. It easy to do,exchanging our euros into sterling pounds,,waiting your reply ,missing Britain very much ,
Oct 2nd 2018, 7:00 pm
#2
Joined: Feb 2012
Location: Not in Paris
Posts: 18,192
Re: Returning home from Spain
Hi Robert,
Welcome to BE! You asking about transferring money to the UK - will this be the proceeds of your house sale in Spain? Do you still have a bank account with Lloyds? Are your family able to help you make the return home?
Welcome to BE! You asking about transferring money to the UK - will this be the proceeds of your house sale in Spain? Do you still have a bank account with Lloyds? Are your family able to help you make the return home?
Oct 2nd 2018, 8:44 pm
#3
Concierge
Joined: Apr 2001
Posts: 46,383
Re: Returning home from Spain
Good afternoon, Robert, and welcome to BE.
I can only imagine how excited you are to be returning home so you can be near your children, grandchildren and great grandchild. After a read of the site rules posted below, please wander over to the Moving Back to the UK forum for advice on moving and transferring your funds from Spain to the UK.
http://britishexpats.com/site-rules/
http://britishexpats.com/forum/moving-back-uk-61/
Rete
I can only imagine how excited you are to be returning home so you can be near your children, grandchildren and great grandchild. After a read of the site rules posted below, please wander over to the Moving Back to the UK forum for advice on moving and transferring your funds from Spain to the UK.
http://britishexpats.com/site-rules/
http://britishexpats.com/forum/moving-back-uk-61/
Rete
Oct 3rd 2018, 12:08 pm
#4
Just Joined
Thread Starter
Joined: Oct 2018
Posts: 2
Re: Returning home from Spain
yes we still have family in Gillingham and Rainham Kent .and we can stay there while waiting to buy a property Undestand i can buy a property for older people over 50 .now please can you advice me who to send my money from my spanish bank and my house when its sold who can do the exchange rate for me,to go into my banl Lloyds in Gillingham High Street .which i still have money ,PLEASE ALL INFORMATION YOU HAVE ON LEAVING SPAIN RETURNING HOME TO ENGLAND thank you very much robert peter dunford
Oct 3rd 2018, 12:39 pm
#5
Concierge
Joined: Apr 2001
Posts: 46,383
Re: Returning home from Spain
Robert, I urge you to repost in the Moving Back to the UK forum. This is the Welcome Inn and you will get great response and help there as it is the proper forum and one that is heavily used.
Oct 3rd 2018, 1:16 pm
#6
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: Returning home from Spain
I've moved you to the MB forum. As Rete says, you'll find the best support here. Good luck with the move.
Oct 3rd 2018, 3:47 pm
#7
Joined: Feb 2012
Location: Not in Paris
Posts: 18,192
Re: Returning home from Spain
Hello Robert,
It's not recommended that you send money back to the UK using a bank as they will charge you very high fees for doing so. Using a reputable online transfer service will save you a lot of money. I've not used such as service myself but one that is often recommended by members on this forum is https://transferwise.com/.
The over 50's properties you refer to are likely to be lifetime leases. Although these will be discounted depending on your age generally speaking these aren't a good idea as when you and your wife have passed away your property will revert to the freeholder and so there will be nothing for your children to inherit. Depending on how much capital you have from the sale of your Spanish property it may be better either to buy a property outright or to place the money in a investment fund and use the dividends as income to rent a property.
You and your children would do well to speak to a reputable financial adviser after you have returned to the UK but before making any commitments.
It's not recommended that you send money back to the UK using a bank as they will charge you very high fees for doing so. Using a reputable online transfer service will save you a lot of money. I've not used such as service myself but one that is often recommended by members on this forum is https://transferwise.com/.
The over 50's properties you refer to are likely to be lifetime leases. Although these will be discounted depending on your age generally speaking these aren't a good idea as when you and your wife have passed away your property will revert to the freeholder and so there will be nothing for your children to inherit. Depending on how much capital you have from the sale of your Spanish property it may be better either to buy a property outright or to place the money in a investment fund and use the dividends as income to rent a property.
You and your children would do well to speak to a reputable financial adviser after you have returned to the UK but before making any commitments.
