Moving to Spain Finance

When it comes to moving to Spain, you will want to get the financial side of things in order as soon as you can, to leave you able to focus on the many other elements of the moving process that are so important.

You will want to ensure that you have a bank account in Spain for starters. If you are a UK resident then this should not be too hard, but again you will need to allocate the time to do so and ensure that you have the relevant documentation in place.

And of course you will need a mortgage on your property in most cases, which as you unfamiliar with the process compared to the UK in and of itself can be a major hurdle.

Therefore you should seriously consider getting financial advice, in the shape of (funnily enough) a financial adviser who, whilst of course costing money to engage their services, should be a valuable use of resource.

If you have a pension then you also need to consider how to manage that element of your finances; in most cases your state pension can be paid into a Spanish bank account directly without issue.

You should also consider the process of transferring money across from one country to the other and specifically the transfer between pounds and sterling due to the exchange rate. Generally the pound has only gone one way against the Euro and that is down, down, and at the time of writing there is practically parity between the two currencies.

Some people decide to hedge their money, but what you decide to do is up to you but at least consider getting advice as to how to ensure that your cash is protected against any major swings, should you need to abandon your dream for whatever reason and move back to the UK.

It is also very worthwhile to get a Spanish solicitor engaged as soon as you can in the buying process, and of course one that speaks excellent English as well as Spanish. When you research the property and look around it take the time to get some recommendations for good solicitors, again they can be worth their weight in gold, particularly when buying in a country that may be unfamiliar to you in terms of the legal process.

Buying Property

Mortgages

Buying Overseas

Tools and Resources

Moving to Spain Finance

House Prices