If UK votes to leave EU

What will be the affect if UK votes to leave EU?

If the Referendum result is to leave the EU, there will likely be a ‘settlement’ period of at least 2 years.  During this time, Britain and the EU will look at reciprocal arrangements, such as we now enjoy.  If however  Britain denies certain privileges to EU citizens wishing to live in the UK, then those privileges will almost certainly be withdrawn from the ex-pats.

Priveleges affected could be:

The loss of ex-pats’ right to freedom of movement within the EU.

We may be required to have a visa/work-visa to visit/work in mainland Europe.

The European Health Insurance Card would probably no longer be valid – for UK visitors as well!. Health provision under E120 (or S1) rules, could be withdrawn.

Our British state pensions could be frozen, as they are already in many other non-EU countries, such as Australia Canada, South Africa, etc. The law allows freezing of ex-pat pensions, unless reciprocal arrangements are in place. for financial reasons some could be forced to move back to the UK which already has limited housing stock and problems with the NHS. An alternative could be to take local citizenship. Are your language skills good enough for that?

We would probably lose entitlement to UK benefits such as Attendance Allowance, Disability Living Allowance, PIPs, etc.

Winter fuel allowance has already been withdrawn in namely Portugal,  France, Spain.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

What does latent defects insurance cover?

When a building is insured during the construction phase, coverage doesn’t necessarily end once the final brick has been laid. Failures and problems with design and workmanship can go unnoticed for several months or even years, leading to larger issues while someone occupies the building. Fixing such large structural defects can be extremely costly, so…
Read More
Breaking News

Breaking Property News – 24/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Smart Spaces delivers the world’s first implementation of HID’s mobile credentials in Google Wallet at Workspace Mobile access control integration makes entry to The Light Bulb building effortless for customers London, April 23, 2024 – Smart Spaces announces today that it has partnered with trusted identity provider,…
Read More
Love or Hate Rightmove
Breaking News

An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 4.89%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.29%, up from 4.75% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.82%, up from 4.42% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.36%, up from 4.15% a year ago The average monthly mortgage payment on…
Read More
Property for sale
Estate Agent Talk

Understanding Property Valuation: A Simple Guide

Ever asked your self, “How a amazing deal is my house simply simply well worth?” Whether you’re thinking of promoting, thinking of searching for, or just simple curious, identifying a property’s rate can experience like navigating a maze without a map. Yet, do not agonize. This sincere guide will stroll you via the necessities of…
Read More
Love or Hate Rightmove
Breaking News

Aberdeen is cheapest city to be a first-time buyer

New analysis reveals that Aberdeen is the cheapest city to be a first-time buyer with an average asking price of £102,602: The average monthly mortgage payment for a first-time buyer in Aberdeen is £406 per month, assuming the buyer has a 20% deposit, and a mortgage term of 35 years Data from UK Finance shows…
Read More
Breaking News

Breaking Property News – 23/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Agents urged to review AML policies following recent HMRC fines Recent substantial fines issued by HMRC are a harsh reminder to agents to ensure that their Anti-Money Laundering (AML) policies are up to date, and they have control testing in place. This is according…
Read More