The long-running uncertainty over Brexit may lead to a glut of British expats returning home and renting rather than buying.
That’s the view of Girlings Retirement Rentals, which says uncertainty surrounding any Brexit deal - if one is struck at all - means many expats may return sooner than expected in a bid to avoid any difficulties.
It’s estimated that of the 1.3m Britons living in other European countries, around 20 per cent are retired.
Jamie Turnbull, business director at Girlings, says: “Many expats face an uncertain future. On top of all the challenges regarding Covid-19 this year, they face the issue of what to do regarding where they live after the Brexit transition period ends. For those that opt to come back to the UK they can be worried about where they will live.
“One option is to rent in a retirement development. We have quite a few expats already living in our developments who have come back to the UK after years living abroad.”
Girlings deals exclusively with renting private retirement property to the 55-plus market throughout the UK.
It has over 2,500 properties in 600 developments, and lets the majority of its units on life long assured tenancy agreements, which allow tenants to stay in properties for as long as they wish.
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Really poor sales pitch, In reality, many including me and many around me wouldn't come back if we were invited and offered free accommodation.
Portugal welcomes Brits even after BrExit.
All move there.
The Portuguese Govt actively seeks expats.
It would be a massive boost to the Portuguese economy.
There is a 10 year tax free scheme in force currently.
Any expat should consider Portugal before returning to the UK
Why would they be looking at where to live when the transition period ends? Why won't they be staying exactly where they are?
It seems to me like this agency are reaching - and haven't a clue about how brexit works.
The withdrawal agreement has already been ratified and is an international treaty. That's why there IS a transition period. Citizens rights were all agreed as part of that withdrawal agreement - including continuing reciprocal healthcare arrangements for pensioners and future uprating of their pensions - so there is no reason that pensioners who were legally resident in the EU before the end of this year will be returning.
The only ones who might be returning because of brexit would be those who weren't legally resident and so can't get a residence permit under the terms of the withdrawal agreement but would you really want tenants who are moving because they've been illegal immigrants and so have no choice other than to wait for possible deportation?
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