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geezer466

The Spanish Nightmare For The Ex Pats

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Seven years ago, Marian Henderson moved to the south of Spain with £1million in her pocket. But when - or perhaps that should be if - she finally makes it back to Britain, she will be lucky to do so with one quarter of that sum.

The magnitude of the problems in Spain is now being laid bare for the home grown population.....

Of course, some will argue that those who are suffering today are doing so because they chased a dream — and in doing so were blind to the magnitude of the risks they were taking.

The truth is that the credit crunch and the depth of the recession took pretty much everyone by surprise, not just in Spain but across the world.

So the only way was ever up? The Spanish market overheated to the tune of several degrees worth than the UK ever did. It was never an if simply a when.

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Read that,.

Talk about chasing the market down. Two of the pople featured have been trying to sell for more than 3 years now.

A portent of the UK now.

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First lady:

Her home, a beautiful four-bedroom country house surrounded by orange groves, a swimming pool and stables, was once valued at £725,000. Today, it is on the market for just under £270,000.....

Marian and husband John, a builder, were among them. In 2004 they sold their home in Navestock, Essex, for £875,000 and headed south, bringing with them another £125,000 in savings.....

The property is on the outskirts of the village of Coin, about a 30-minute drive inland from Marbella, and cost the couple £550,000.....

All my savings have gone and I am relying on the British state pension,’ says Marian.

I understand she wants to come home as now a widow and I am sorry she lost her husband, but she still appears to have had some £500k savings which she managed to blow in four seven years

The tiler's story is equally tedious. Came with £113k, house once valued at in excess of £200k, now on the market for £104k. So a £10k loss. Middle aged, cannot find work. My heart bleeds.

Edit: got the number of years wrong

Edited by FaFa!

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"‘As for help from the government there is nothing. If I was in England I would get help with the council tax and pension credits, but because I am in Spain there is nothing. They don’t hand out anything for free here - it’s terribly depressing.’"

So you had all of that "equity" that you spent , and now you want to come back to England and leech off the British taxpayer because those nasty Spaniards wont give you something for nothing.... :angry:

Waaa Waaa I want something for nothing, I'm entitled! :blink:

Edited by JustAnotherProle

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Of the Spanish social security system, Mrs. Henderson said: 'They don’t hand out anything for free here - it’s terribly depressing.’

That just sums up the sense of entitlement that these sorts of people have, doesn't it?

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Of the Spanish social security system, Mrs. Henderson said: 'They don’t hand out anything for free here - it’s terribly depressing.’

That just sums up the sense of entitlement that these sorts of people have, doesn't it?

I know some Brits in Spain who believed that European integration meant that benefits would be integrated. They were quite keen on that word 'integrated' for a while.

I once asked them ( 2006, the year after they had bought) if they had looked at Spanish costa prices in the 90s. "Why would we do that? Those days have gone" said herself.

That is when I shut up.

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Of the Spanish social security system, Mrs. Henderson said: 'They don’t hand out anything for free here - it’s terribly depressing.’

That just sums up the sense of entitlement that these sorts of people have, doesn't it?

Given that this is the Daily Mail, she probably didn't actually say anything like that at all.

Edit: Actually, she probably did say those words, but the two parts of the sentence were most likely well separated. Just takes a little snip to keep your average Mail reader's sense of righteous indignation and schadenfreude well stoked.

Edited by snowflux

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The caption under the photo says:

"[End of the dream: Seeing that the writing was on the wall, three years ago Rob Dawson and his wife put their house on the market. The asking price was initially £235,000, but has gradually been reduced to its current one of £104,000"

You have got to move quickly, not gradually to catch a falling knife. :lol:

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You used to be able to claim Benefits from the UK in Spain quite easily, my parents had met people who used to do it. However HMG has cracked down on it considerably; last they heard they had returned to the UK and their house was up for sale.

This is pretty much the case for a lot of the ex-pat brigade, make out they have lots of money, when really they are skint and relying on handouts.

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So they've lost a fortune in the Spanish property crash, only to sell-up, move their fortune back to the UK just in time for the UK property crash.. DOH

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So they've lost a fortune in the Spanish property crash, only to sell-up, move their fortune back to the UK just in time for the UK property crash.. DOH

funniest post of 2011 :)

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hi

This gem struck me: "Those in poor locations or with even the slightest question mark over their legality are being ignored, however hefty the discounts."

Outrageous! You can't even shift an iffy land-deal any more. I blame Thatcher, me

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Marian and husband John, a builder, were among them. In 2004 they sold their home in Navestock, Essex, for £875,000 and headed south, bringing with them another £125,000 in savings.

‘It was always John’s dream to live in Spain,’ says Marian, who has four children and nine grandchildren. ‘I was happy where I was, but I said to him that if he matched what we had in England - the house, the land and the stables - then I would come.’

And, in Finca Bonita, match it he pretty much did. The property is on the outskirts of the village of Coin, about a 30-minute drive inland from Marbella, and cost the couple £550,000.

After extensive and expensive renovations it has four bedrooms, three bathrooms, a pool and stabling.

Living on savings and husband John still working as a lorry driver to give them extra to spend. Sold their English house for a fortune and paid a corresponding fortune for a property in a foreign land. Blaming her husband when had been the one demanding a luxury property. Insufficient savings and putting themselves at risk if values fell. A lifestyle they couldn't afford to maintain. Go ride one of your horses Marian.

As for the other guy, who is going to buy his place at a price what is still a fortune of money if he fears going out will see his home burgled again.

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Of the Spanish social security system, Mrs. Henderson said: 'They don’t hand out anything for free here - it’s terribly depressing.’

That just sums up the sense of entitlement that these sorts of people have, doesn't it?

And shows how soft we are over here, and why they all want to come here

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‘I am on anti-depressants and I tell my daughters that if I don’t sell, they won’t only be taking their dad’s urn home but mine as well.’

This modern reliance on anti-depressants is shocking and explains why society has no backbone. If she's that upset then sell the place. Everything sells for a price. I'd give her 10K for it. I doubt she cares about all the people who have been priced out of the housing market in Britain. I have more sympathy for people who want to buy a home.

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Daily Mail pic

article-1359029-0D4927B2000005DC-229_636x419.jpg

Reasonably certain this is Marian's place from one Spanish Estate Agency selling page which looks to date back to February 2008, with a €670,000 asking price. 5 stables built to British standards and so on.

51_PICT0864.JPG

The land itself has various possibilities There are a large number of olive trees which if picked can bring in a very nice yearly return. The local Spanish farmers are usually very friendly people and could be called upon to pick the crop for you or at the very least direct you to the correct place where you can sell them.

:lol:

http://www.coin-coun...id=51&Itemid=26

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Daily Mail pic

article-1359029-0D4927B2000005DC-229_636x419.jpg

Reasonably certain this is Marian's place from one Spanish Estate Agency selling page which looks to date back to February 2008, with a €670,000 asking price. 5 stables built to British standards and so on.

51_PICT0864.JPG

:lol:

http://www.coin-coun...id=51&Itemid=26

Her home, a beautiful four-bedroom country house surrounded by orange groves, a swimming pool and stables, was once valued at £725,000. Today, it is on the market for just under £270,000.

Thats some drop.........................................over 60% ouch.

Lets hope Australia goes the same way, a nice retirement place, doubt it though, bl00dy Chinese...............................

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Shock horror as British expats find that just by selling up in the UK and moving to Spain doesn't actually mean you can stop working for the rest of your life!

Two years ago the pound dropped by about 50% against the euro. So two years ago they could have easily sold their properties by knocking 50% off, and they still could have moved back into sterling at no loss. Sadly I suspect the reason they didn't was not because of greed, but because they were poorly advised by know-it-all perma-bull (and perma-tanned) EAs on the costas.

(Also the builder who paid 550k for a 4 bed villa 30 mins inland from Marbella got seriously ripped off)

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I'm looking forward to the TV program

"No place in the sun".

would be worth a watch :lol:

"This modern reliance on anti-depressants is shocking and explains why society has no backbone"....the general ease of getting a hold of drugs that make the upset/depressed public happy and docile seems to be far too easy!!! I know no end of people who have been on them...for no other reason than they dont like their life ( in their 4 bed house, with every mod con, good job, nice cars, lovely holidays ).

Edited by TheCountOfNowhere

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I reckon many of these houses will never be sold at all. The only hope is that they reduce the prices enough so that local Spainards can afford them, and that will be a horrendous loss and the demand might not even be there anyway.

Thing is with Med properties is that they weather really quickly. And lets be honest, even if somewhere is cheap, you have no idea what the area is going to be like in five to ten years. You could pick up one of these places and discover very quickly that you live in a desolate dead zone with no amenties anymore, and you just surrounded by empty properties that are slowly falling apart.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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