Going's good for pensioners in Spain

Every reduction in the Pound’s bank rate announced by the Bank of England is welcomed by mortgage borrowers struggling to pay today’s bills, but is unwelcome to pensioners struggling to pay today’s bills and those coming each week to the end of their lives…

The lowest bank rate for 50 years, maybe, but ironic to the only people in Britain who can remember it - because it doesn’t help them at all. They can’t live off the State pension, while their private pension or annuity depends on good numbers from public companies whose recessional profits are sinking fast.Rip-off Britain, where everything seems to cost much more compared with America and G8 countries, is getting cheaper on the High Street as stores struggle to survive.

Come the end of the recession and the shop prices will go back up, along with VAT, National Insurance contributions, personal tax, green taxes, insurance premiums, motoring and travel costs. This will create an even bigger dilemma for pensioners, whose savings and pensions have already been decimated and when too old and too ill for much else, throw themselves on the mercy of the National Health or local authority care of the elderly services.

More pensioners than ever are looking at quitting unaffordable Britain and most of them are exploring prospects in Spain where the cost of living is one third lower, life is slower and diet is healthier with people living longer a result.

Motoring, housing and heating costs are half those of the UK and amenities for oldsters are often better, specially in the new breed of activity resorts for the over 50s that combine health clinics, spa and slow sports with easy to run homes designed for immobility present or future. All this and 300 days of sunshine a year, cheap flights back to Blighty when necessary and UK state pension collectable in full from the nearest Spanish post office or bank.

2009 is looking like the best year yet to buy a nice house for retirement or semi retirement in Spain as the prices have sagged to the levels of five years ago and if you need a top-up mortgage, the bargain prices should ensure low, affordable repayments.

Downsize, sell-up completely or rent out the place in UK to produce cash to fund a Spanish purchase or pay the Euro mortgage. Many retirees thinking seriously about the prospect talk to PropertyInSpain.Net who have 1,000s of suitable “retirement” properties and helpful affiliates across Spain and good contacts with Spanish banks.

Look at your financial situation and if unconvinced on the viability of your future in the UK, get out while the going’s good, enjoy sunnier days and a lifestyle that helps people live happier longer.