Financial Expert | Business Excellence | Growth Expert
Mike is an award-winning financial expert and a well-known leader in the financial industry.Having taken two of his previous firms to Chartered Status in the UK and also achieved the prestigious National IFA of the Year Award – Highly Commended.In addition, Mike is a well known Independent Financial Adviser and Money Coach. Qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Founding Fellow of the Institute of Sales Professionals (FF.ISP), a Fellow of the Institute of Directors (FIoD) and featured as a highly qualified Financial Adviser in Which Financial Adviser.

Spain back in Brits’ sights

Mike CoadydeVere Spain back in Brits’ sights

Spain back in Brits’ sights

With news of Spain ‘technically’ exiting its second recession in five years in the third quarter of 2013, coupled with inflation easing last month, the country looks to be in the first stages of growth and recovery.  I’m not saying it will happen overnight of course, but there are surefire – and very welcome – signs of sustainable economic improvement.

This is good news for those Brits who are considering relocating to Spain.  Whether it be for retirement, career opportunities, or simply to improve their lifestyles, moving to Spain has enduring appeal – as many independent surveys continually highlight – and its attraction amongst Brits longing to leave the UK seems to be gaining more momentum.


Record-breaking year for equity release

As the upward trend picks up, more and more homeowners in the UK are turning to equity release schemes to raise additional capital to buy a second home in the sun.  According to latest figures, over £800 million has been released from properties in the UK so far this year, a 15 per cent rise on 2012’s figures, and many experts say this could be for international property investments and/or relocation purposes.

The future’s also looking brighter for the euro.  The European Central Bank lowered its key interest rates at the end of last week, aiming to prevent the euro zone’s recovery from hitting a brick wall.  They could well be lowered even further still in the future to aid growth.  This has resulted in an increase in the GBP-euro rate, meaning expat Brits will get more ‘bang for their buck’ if they decide to relocate to Spain.  The euro is now back up to 1,20 against the pound, from a low 1,03, but this is still a far cry from the previous 1,50 figure several years ago.


Job opportunities

For those Brits who are considering a move to Spain to enhance their career prospects, or aiming for a better lifestyle for their family, what are the chances of finding work?  The good news is a fall in unemployment was reported in Spain, down to 26 per cent from 26.3 per cent at the end of September this year, for the first time since the 2008 ‘crash’.  Although the country is not out of the woods by any means, Prime Minister Rajoy’s labour reforms are, in my opinion, a significant step in the right direction.

But what about those who have come to the end of their working life and are planning to retire in Spain?


Benefits of relocation during retirement

It’s crucial that retirees have a big enough pension pot to enable them to live a comparable lifestyle during their ‘golden’ years.  The expert financial advisers at the deVere Spain help clients make the most out of their UK pension, with a wide range of considerable benefits available to expats that their friends and family back home are unable to enjoy.

For example, retired expats can typically become more tax efficient than their contemporaries in the UK thanks to the Qualifying Recognised Overseas Pension Scheme (QROPS), which allows them to mitigate their inheritance tax liabilities, have their pensions paid out in the currency of their choice, and the chance to access 30 per cent as a cash free lump sum, amongst other considerable benefits.

Planning the ‘big move’ can be a daunting task, but putting plans in place as early as possible, and consulting an independent financial adviser, will help to guarantee a comfortable, rewarding, retirement in the sun.





Mike CoadyMike Coady
Mike Coady

Mike is recognised at the forefront of financial planning as a financial advice mentor who demands only the best outcomes for both individuals and businesses he works alongside.

No Comments

Leave a Reply