Investors pull billions from UK on prospect of no-deal Brexit

[BrilloPad]

Speaking of investing in sunny Europe, I'm now in a position where I can buy a second property so where should I start looking at? Spain/Portugal/Italy?

Where should I move my british money to?

Not Portugal.

[darmstadt]

Not Portugal.

Isn't Portugal the only European country that the UK hasn't gone to war with?

[BrilloPad]

Isn't Portugal the only European country that the UK hasn't gone to war with?

I wouldn't know about that and can't be bothered to google. But I find it on the Iberian peninsula is not one big country. I have heard the Portuguese are vicious bar stewards - maybe that explains it. Whenever I visited they all seemed nice to me.

[sasguru]

Speaking of investing in sunny Europe, I'm now in a position where I can buy a second property so where should I start looking at? Spain/Portugal/Italy?

Where should I move my british money to?

Wherever you find most congenial. Property prices in Portugal were rising at 9% per annum but seem to be overheating.
I don't intend to sell though, I've just bought for the lifestyle, which is great.

[sasguru]

BTW the property purchase system in Portugal is much more sensible than the UK. Both seller and buyer put down a substantial deposit (say 10K, held in escrow) on start of proceedings. This is adjusted at completion. If either pulls out they lose the deposit and it goes to the other party. So gazumping/timewasting is rare and you get compensated if it happens. Takes 2 months with minimal grief to buy there.

[PCTNN]

Also, I don't think Portugal has the "offers over" system when buying a property?

That's an annoying pain in the butt...

[sasguru]

Also, I don't think Portugal has the "offers over" system when buying a property?

That's an annoying pain in the butt...

Not that I know of...

[Mordac]

Speaking of investing in sunny Europe, I'm now in a position where I can buy a second property so where should I start looking at? Spain/Portugal/Italy?

Where should I move my british money to?

All three of those are in serious danger of crashing Greece-style, so I'd wait until one of them actually happens, and pick up a bargain.

[sasguru]

All three of those are in serious danger of crashing Greece-style, so I'd wait until one of them actually happens, and pick up a bargain.

Lucky you live in successful Britain then.

[AtW]

BTW the property purchase system in Portugal is much more sensible than the UK. Both seller and buyer put down a substantial deposit (say 10K, held in escrow) on start of proceedings. This is adjusted at completion. If either pulls out they lose the deposit and it goes to the other party. So gazumping/timewasting is rare and you get compensated if it happens. Takes 2 months with minimal grief to buy there.

Sensible system, pretty obvious too - every time I bought car in UK I had to put down deposit for it as sign of good faith FFS, why can’t it be done with much more expensive real estate purchase?