EU Property Solutions Offers Expert Advice in Run-Up to Potential Brexit

By on June 7th, 2016

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As the UK hurtles towards the vital referendum on membership of the European Union, EU Property Solutions is offering its considerable expertise to property owners who are concerned about the implications of a Brexit.

The firm is encouraging those worried about a Brexit, or considering selling their foreign property in the coming months, to talk to experts about their options. EU Property Solutions has vast experience in negotiating foreign property debt issues, and can help UK residents saddled with unwanted foreign homes to find a positive solution to their situation.

James Bell, Director of EU Property Solutions, says, “A vote to leave the EU would certainly have an enormous effect on many of the UK citizens that own property in countries like Spain, France or Italy. Holiday homes in these countries are incredibly popular, but without EU membership, property owners in these areas would come up against a number of problems.”

He adds, “Many foreign home owners are now considering selling their property as we approach the referendum, as they try to mitigate the impact of a Brexit on their own personal finances and assets. Here at EU Property Solutions, we can discuss all the options with clients, offering vital assistance for those who might be considering selling their foreign property in the coming months.”

A vote to leave the European Union would have a number of knock-on effects for UK citizens looking to invest in foreign property. Firstly, mortgages would become less attainable. In France, the minimum deposit required for EU citizens to secure a mortgage is 20{8ffce72bfd1f9b3f5d8b0ef2230e543e76a5ce407a245cd6391b5bca5679dfbb} – but non-EU citizens face having to find deposits of up to 50{8ffce72bfd1f9b3f5d8b0ef2230e543e76a5ce407a245cd6391b5bca5679dfbb} if they want to buy a holiday home or foreign property.

Property inheritance and taxation laws would also be subject to change for Brits. The law currently treats EU and non-EU citizens differently, and this could mean British expats or foreign property owners being taxed more in the aftermath of a vote to leave.

Being outside of the UK may also require visitors to Spain or France to apply for a visa in order to legally enter the country. Not only does this mean a more expensive and lengthy process of application and acceptance, it also means intrusive questions about income, the length of your stay, any health cover you might have, and whether you’re planning to work abroad.

James Bell adds, “The outcome of the referendum will have a colossal effect on the foreign property market, especially for Brits. We’d urge anyone with worries about their foreign properties to speak to a member of our team to discuss their options – we’ll do our best to ensure a positive outcome for all of our clients, Brexit or no Brexit.”



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