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At this time of year, when snow is on the ground and we’re all finding it difficult to commute, how often do we moan about our weather?
At this time of year, when snow is on the ground and we’re all finding it difficult to commute, how often do we moan about our weather? How often have we heard people say “Oh if only I lived in a country with warmer weather”.
Many British people have a dream of living abroad. Some choose Spain because of the weather and due to time previously spent there being on a holiday. The question is, does this dream of sunshine turn into a nightmare?
People who moved to Spain on fixed incomes many years ago were quite literally living the high life. They found their incomes went a lot further and the cost of living was a lot cheaper than the UK. Mortgages were cheap and easily available. However, with their fixed incomes being eroded by foreign exchange rates and the high cost of living, many have a desire to return. Some ex pats also find that receiving medical care can be difficult because of the language barrier.
There are thousands of British people trapped in Spain as they cannot afford to move back to the UK. With their Spanish dream home having dropped dramatically in value. On the Mediterranean coast, where most British people have settled, the value of some properties has plunged by 70%. Which is big when compared to the average slump of 27% throughout the rest of Spain. The economy of Spain is teetering on the edge with huge unemployment and the downgrading of the credit rating of Spanish banks. Many people are struggling with debt with the Banks desperate to call in the bad debts.
Are you struggling with debt? We at Wilson Field are able to offer advice on personal debt. Our team of friendly professional staff are only a phone call away.
By Debbie Gregory