Oh, not to be in England...

Poet, Robert Browning, who worked for the Bank of England, clearly didn’t know about the current dire fiscal state of the country when he wrote "Oh to be in England now that April's there”... Nor would he suspect that Spain today is probably now the best alternative base for the Over-50s who are old enough to remember the truism of the poem, Home Thoughts from Abroad.

This is a watershed month for the McBroons, who so ineptly “govern” the UK, as all their mistakes are coming home to roost and sensible families can see the writing on the wall regarding huge tax rises, more pension raids and a pay-back period of several decades before the McBroons’ follies are finally put to rest.

The Over-50s have enjoyed great sunshine and sangria holidays in Spain for decades, so they know all about the weather and the life-extending lifestyle that comes with the package. They might also be hearing that now is the time to take a serious look at the many bargains homes at prices that more than negate the currency losses caused by the lack of credibility in Sterling and the McBroons’ inability to handle fiscal matters.

It rained for a day this week in Alicante, but that didn’t stop Brits inspecting apartments and villas along the much-loved Costa Blanca. One English couple made the plunge when they found the detached hilltop, seaview villa they fancied had been reduced by EUR 50,000; one local agent reported five sales in a single day on Orihuela Costa and the paseo maritimo in Torrevieja was busy with smug Brits who’d made the buying decision months ago and were enjoying their first “residential” Spring sunshine.

Unlike their counterparts in the UK, Spanish banks are offering low cost mortgages with a loan to value of up to 80% in normal circumstances. They know there are bargains around to tempt Brits and other north Europeans away from their bleak weather and even bleaker financial outlook – the banks own many houses following repossession as the recession also affects Spain.

Brits are down-sizing, releasing some equity – so reducing their mortgage repayments – and buying a place in Spain for holidays and/or as a prelude to a full-time relocation away from the McBroons and the demise of the UK.

If that sounds attractive, register here for real Spanish bank repossessions and other distressed bargain property in Spain and read Time to Bail out of Britain