nataliefraser wrote:Thank you for the reply. Will ask the agents. Luckily I wont need a mortgage as we are selling up in the UK and retiring to Spain.
Many thanks again.
Hi Natalie,
to the forum.
This rent to buy sounds a good idea.
I believe though that anyone selling up completely in the UK to retire anywhere abroad is taking a risk. No one knows the future but the best insurance I know for those who want to buy in Spain, if at all possible, is to also buy a small bolt-hole type property, to possibly rent out the UK or just use for holidays in the UK, even if this property is just used to go back to the UK for the hottest part of the year (August) or for the colder month(s), if need be. Then if this property is not needed in years to come, there is no better financial investment in my opinion.
I have spoken to quite a few Expats, some who have done this and some who say they wish they had been able to do it and others who wished they had rented their UK place out and rented in Spain, until they were sure that the different lifestyle was for them.
Of course many Expats love it in Spain and would never want to go back but it is still a chance to take. One of the happiest couples I know has rented out their UK property for around 4 years and have had a wonderful time renting and living in the area (on the proceeds of their UK rental), even upgrading to a villa during that time but recently they say they are ready to go back, not least because of their age and a few health problems... and it is so easy for them to return when their rental contract is finished in the UK.
Just my thoughts, everyone is different, but I would definitely at least rent first, even just for 6 months, before selling the UK property outright, if buying a smaller property to leave in the UK is not on the cards.
I'm not being negative as I love Spain and this area where we have our holiday home, but all year round living is so different to holidays.