Before the referendum or after....?
 

Hi all,
My partner and I have planned to buy in Spain over the last twelve months and we will soon be in the position to do so.
However, in view of all the confusion about what might happen if we exit the EU or not, (life will carry on as it did before I'm sure, but with what ramifications?)
Does anyone have any advice or opinion on whether we should buy before or wait until after the referendum to buy? Thanks

Re: Before the referendum or after....?
 

Not long to wait to get certainty is it. Although it might take years to settle down if there is an out vote. IMHO I would wait.

Steve

Re: Before the referendum or after....?
 

It will depend on how the exchange rate moves after the referendum. A stay vote will improve the rate and a leave vote will lower it - at least temporarily. When the dust settles after a leave vote the rate may improve because of the adverse effect on the remaining EU.

It's just a big guess at the moment.

Re: Before the referendum or after....?
 

As has been said it's not long to find out now, if you have yet to find somewhere then there's no harm in looking and if you are desperate then you could always rent.

As Fred has said the results will immediately affect sterling v euro and particularly US dollar so if you are really keen maybe exchanging some at today's rate as a way of insurance, it's hedging your bets and of course you could lose out but it's something to think about, most uk banks will have the facility's to offer a Euro account.

Re: Before the referendum or after....?
 

I would say wait as nothing really to lose by that. Better to use foresight rather than regretting with hindsight for sake of a couple of months!

Re: Before the referendum or after....?
 

Thank you all, we have decided to go and rent a place for a month or maybe longer, narrow down areas etc. Then when the dust clears after the referendum we will make our purchase! 👍

Re: Before the referendum or after....?
 

Why stress, what difference would it make to your decision? Many buyers are from non EU countries. They don't seem to worry.

Re: Before the referendum or after....?
 

Well that's fine for them, but as we are from the UK and approaching retirement age we do have to consider the implications that it may or may not effect. This and the health care considerations are our main thoughts. But we are not stressing, what will be, wil be. We just wanted to ask for people's thoughts!

Re: Before the referendum or after....?
 

Who knows what will happen. If the UK leaves the EU, maybe Spain will introduce a new tax for non EU citizens. No matter what happens, Brits will always want to move to Spain, so might make financial sense for the Spanish government if Britain no longer has EU rights.

Re: Before the referendum or after....?
 

It will take a minimum of two years, if the vote is to leave, for the UK to be out of the EU, and even that time scale is very dubious. Greenland was the last country to leave, and it took them two years, BUT that was years ago, and there have been a huge number of changes since then, and it appears that in some areas other countries COULD vote against the UK leaving, and that would be that, so a leave vote doesn't really mean that the UK has to leave, or even can leave.

Re: Before the referendum or after....?
 

But at least the OP would know the result of the vote and can act with that knowledge if nothing else.
I think if the vote is to leave irrespective of what Cameron says (and no doubt what Boris would like) the EU will think again and maybe offer a better deal. However I can't see them being able to force the UK to stay? That would certainly never work, encourage a re think to stay maybe.

Re: Before the referendum or after....?
 

Thank you for your reply, we never realised other counties could do this, news to us!!! Well if that's the case maybe there's hope for us staying in? 👍

Re: Before the referendum or after....?
 

I don't get Mike's post? The EU can't force the UK to stay if the the referendum result is to leave. They could renegotiate and put it to another vote? The only countries I can see that could vote to prevent us leaving would be those that make up the UK, no doubt Scotland would do that as they want to stay maybe N Ireland as well. But surely that would be by referendum on staying in the UK ? Certainly should the vote be to go I don't think it will be a simple break, but no way would the British public accept being forced against a majority vote to leave.

Re: Before the referendum or after....?
 

Unsure what you mean by 'in some areas' in this context, Mike ?

Withdrawal from the EU is a fundamental right of all member states.

See here...

Re: Before the referendum or after....?
 

You beat me to it but yes the Lisbon Treaty states every member state has the right to leave.