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Brits are anxious about healthcare and pensions in Spain after Brexit

The Spanish government has expressed concern over British nationals living in Spain and with citizens who chose to move to the U.K. Madrid is also worried with leading companies that have a large exposure to the U.K., including Banco Santander,  Telefónica and electricity utility firm Iberdrola, which make up a third of the value of the Spanish Ibex 35 index.

A  so-called “hard Brexit” – a scenario when the U.K. leaves the single market and uses the rules within the World Trade Organization to cooperate with EU businesses – could cost Spain 1 billion euros in lost exports and others services, an official document seen by El Pais revealed.

But many of the hundreds of thousands of Brits living in Spain have other concerns such as their pensions and healthcare in a post-Brexit Spain.

According to some sources, because of this issue, some British buyers have preferred to put their on hold their aspirations of buying a home in the Spanish Mediterranean or other beautifully weathered coastal towns of this country due to the lack of clarity regarding what will happen after the Brexit.

Real estate firm Kyero recently reported a decline in growth in enquiries for Spanish properties for the first time in February – as Brits adopted a ‘wait and see’ policy.

This report emanates a bad vibe regarding the outcome of the Brexit and more paricularly what it will mean to the millions of immigrants who have travelled to other countries within the EU and who are retirees facing ever slimming pensions and prefer to leave their own countries to find a better place to live both economically and because of the climate, which is why many opt for the beautiful Spanish countryside.

Head of research Richard Spiegel said,  “We found the change most pronounced in the over 55 age group, who probably have the most to be concerned about.

“While Brexit is unlikely to impact property rights, mortgage lending or the mechanics of purchasing in Spain, the situation regarding healthcare and pensions needs urgent clarification.

“Nobody has any idea if British pensioners will receive a reciprocal healthcare arrangement in Spain post-Brexit, leaving many in limbo. The Health Select Committee has heard evidence on the issue but we’d like to see more vocal lobbying for early clarity from the government.”

Spiegel also said that despite the uncertainty over Britain’s divorce from the EU, the market is likely to remain buoyant.

“European buyers have been extraordinarily active in picking up the slack from nervous Brits – but it seems a shame to watch  Germans getting first dibs on the sunbeds, while Brits are waiting on Mrs May for the towels,” he added.

Many other experts and businessmen from Britain living in Spain don’t feel intimidated the speculation around Brexit and since healthchare is no doubt the most thorny of the issues concerning expats, UK retirees have applied for private healthcare which is tailored to individual needs and incomes, offering a shield against an interrumption to free medical treatment outside EU nations other than their very own United Kingdom.

And although Theresa May has declared she has sought to seal an early deal guaranteeing the rights of EU citizens in the U.K. and the rights of Britons in Europe and that “many countries” had supported this but “one or two countries” had not.However, close to 110,000 British pensioners living in Spain who currently enjoy free or very cheap medical care as their tabs are picked up by the U.K.

Many activist believe that if elderly Brits living in the EU stop receiving free healthcare, they will be forced to return to the U.K.

 

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