BigD Nerja

I would wait for the following reasons;

1 A vote to stay in should result in sterling strengthening against the Euro as the uncertainty would be removed. Providing your funds are currently in sterling you would therefore get more for your money.

2 A vote to leave will result in national governments and the EU laying out their respective positions quite quickly to try and avoid destabilising markets and institutions. I expect the EU and the Spanish government to clarify the position of expats very soon after the vote so at least you are making an informed decision.

FWIW I think we will vote to remain and even if we leave I suspect very little will change as there are numerous Spanish nationals living and working in the UK so maintaining the status quo is in everyone's interest.

amideislas

If you're already resident before an out vote, your chances of staying resident are very good. Very likely. Vitually certain.

But if you aren't already resident, you may suffer about the same difficulty in becoming resident as say, a Moroccan. Not pretty.

bobd22

That is speculation of course but I would think if already resident yes you would stay. However other things could change. Medical etc who knows. Also under current rules thousands have legaly bought properties intending to reside permenenta later what for them? Comparing financially sound independent UK residents wishing to move with Morrocan,s wanting to come as lucky lucky men is like chalk and cheese. Fact is and the big problem is no one knows what will be so I say again to the OP given closeness of the referendum I would wait.

amideislas

Yes, all worthwhile considerations. Nonetheless, it comes down to a very important reality. The very day that the UK announces it will be leaving, it's very probable it will be the very same day that new British residency applications within the EU will be provisionally blocked or subject to non-EU status (same status as a Moroccan or Brazilian, a Canadian or an American), pending the results of the two-year process of exit. That would be completely legal, and frankly, a rather reasonable response to prevent a rush of last-minute Spanish/EU resident wannabees from the UK...

Conversely, the status of existing British expats, legally resident in the EU, in all likelihood will be left completely unaltered (and as per law, I believe), at least for the 2-year period while the terms are sorted, and even then, nobody will be kicking anyone out or taking their property away from them. That would indeed be illegal under international law. They simply can't do that.

It's probably worth pointing out that in terms of healthcare, EU residents are not covered by the NHS anyway. You still have to pay for health insurance, in or out. In terms of pensions, I can't envision any scenario where British pensions would be blocked or unrecognised. I believe that would also be illegal under international law.

However, the day the exit is announced, the pound will very likely fall to its lowest levels seen in decades against most currencies, if not {eventually} the lowest in history, so that should be a serious consideration if you're living on a strictly sterling economy. If you're hell-bent on living in Spain or anywhere in the EU regardless of a brexit, I'd start converting your pounds to Euros...

bobd22

As you say all valid points and possibilities but still speculation as fact is no one actually knows or if they do are telling anyone. As for medical cover then if you are state pension age then sorry but the UK pay for that and your EHIC (what will happen to the EHIC) that is why pensioners submit the S1. Will the EU treat us like those never been in the EU? Will all trade and dealings stop on the 24 June? I doubt it or the whole thing will collapse. The £ will fall yes it already has but that could be short term and there is speculation it may then ruse and the Euro fall v dollar. Fact is no one has a clue, hence had I not bought in Spain u would not be rushing to do so pre referendum.
If the vote is out my guess is Cameron will go possibly replaced by Boris who I guess would re nogotiate staying on better terms from a position of strength. All speculation but possible. I merely give my thoughts to the OP as beter to consider prior than regret with hindsight.

bobd22

If we look at it from another angle how many people on the forum would have bought properties in Spain if Spain had not been in the EU with the rights that gives us? Or who would have bought elsewhere in the sunny bits of the EU? It was certainly a consideration for us 8 years ago and I didn't think we would leave!

amideislas

Well, speculation is exactly what's predictable here.

Trade will not cease. That's not the problem. The hard numbers for a post-EU Britain don't look very optimistic. This is what speculative traders will bank on. The pound will take a massive hit - if for no other reason than predictable speculation. How long it takes to recover is debatable, if ever.

The Euro will also take a big hit, but not likely as badly as the pound. So if you're on a sterling economy, the differential loss is the point of concern.

Boris? Yes, well, he believes he has a lot to gain from a Brexit, specifically Downing St., but he's also keenly looking out for the single largest industry in his jurisdiction - The financial services industry. Eliminating all EU regulation will allow them to recklessly speculate again, and profit wildly. And that's Boris' in a nutshell.

The problem is that if things actually go pear-shaped, and then it will be Labour that benefits the most. And of course, Corbyn. Equally potentially our next PM as a result of a Brexit. As unfathomable as it sounds.

bobd22

Not doubting any of what you say and of course sterling strength is a key issue to anyone needing to exchange.However OP just asked for a steer when to buy before or after referendum. Due to lots of speculation I say after that's all, at least then if the vote is out you know things will change and unlikely to be for the better for an expat in Spain. If vote is to stay then no change other than £ should strengthen which is a bonus.

amideislas

I also agree with your assessments.

But to address the OPs question, if you're hell-bent on living in Spain or anywhere in the EU, better to do it now, but beware of the potential for significant pound devaluation should Britain leave.

Aside from the Sterling risk, I believe the rest is all very manageable - if you do it now. Doing it later carries a lot more risk (assuming Britain votes out) especially if you're considering buying - simply because the current 10 or 20 cent positive differential represents a lot of Euros in a large transaction. And again, later, you may very well not qualify for residence at all. Plan goes in the bin.