Buying a plot of land in Portugal is often cheaper and easier than in other countries, in particular in the countryside. A newly-built home can be done to your own specification, plus land is a lot cheaper and more readily available in Portugal than in the UK. New builds are also a good option when it comes to holiday rental investment if you are thinking of going down that route.
One of the most important aspects of purchasing land in Portugal is to ensure that any piece of land that you are considering buying allows you to use it for what you need. It is recommended that you work in conjunction with an English-speaking, Portuguese licenced estate agent and a reputable architect and lawyer from the very outset. Word of mouth is usually a very good way to set about finding someone good: ask expats or go onto an expat forum perhaps. Also ask to actually talk with ex-clients to get firsthand feedback.
There are five different classifications for land: Reserve (Protected), Agro-Forest i.e. forest or woodland areas (which are very difficult to obtain planning for due to current fire regulations), Commercial, Urban and Rustic. The Plano Director Municipal (PDM), which governs this classification, is updated regularly and gives clear definitions of any changes to land classification in all areas.
Portugal has some of the strictest planning laws in Europe which have been introduced to ensure sustainable development and to enhance and protect green open spaces. They have seen what has happened in neighbouring Spain and are determined not to go the route of the vast over-development that took place there.
Once you have the land, you will want to plan to build on it.
Planning Permission
Planning permission in Portugal is a two-stage procedure and it is essential to work with an accredited architect and engineer. The first stage of planning is called the Architectural Project (Projecto de Arquitectura) which is submitted to the local Town Hall for first approval and incorporates a comprehensive description of the property, including architectural drawings, topographical survey and a list of the materials to be used.
The second stage of the planning procedure in Portugal is the submission of the Speciality Detailed Project (Projecto de Especialiada). This part of the procedure covers the engineering detail required to complete the build, information pertaining to sewage removal, water and utilities and is usually compiled in conjunction with an engineer.
Bear in mind that this can be quite a time consuming process!
Once both the Architectural Project and the Speciality Detailed Project have been approved by the local council, it is possible to obtain the Licence of Work or building licence (Licença de Obras) from the Town Hall. Once the build is complete, the Town Hall official will visit the property to inspect it although sometimes this can be just an external inspection. They will check the Book of Works (Livro de Obras) which is kept by the engineer and, if everything is in order, the Town Hall will provide a technical file (Ficha Technica) and a habitation licence (Licença de Habitação) for the property.
I hope this has assisted you. Remember that there are many property professionals that have been personally sourced and checked by OGC Resource Centre staff or that come highly recommended by other OGC readers. The team will happily put you in touch with them – just give them a call on 0207 898 0549. This is a free service and you are under no obligation to use them so why not give it a try? You have nothing to lose.
http://www.portugalbuyingguide.com/resourceform.htm
Carol
The Overseas Guides Company
http://www.Portugalbuyingguide.com
Friday 17 December 2010
Wednesday 8 December 2010
Renovation - how easy is this in Portugal?
Times economically are hard and more and more people are opting to buy a property that is reasonably priced but that needs restoration. And that would seem to make a lot of sense. Just looking on the internet it’s amazing to see how may properties you can find in Portugal that are in the €20,000 range – but just bear in mind that old South African saying: “Goedkoop is deurkoop”, which, loosely translated, means buying cheaply can end up being very expensive!
So…you have looked far and wide and finally found an utterly delightful property with beautiful views in exactly the part of Portugal that you fancy living in - BUT – it needs extensive restoration…
There are a number of questions you need to ask yourself: how practical is this in a country that is foreign to you, working in a language that is too? And how expensive will it turn out to be? Are you planning on doing some of it yourself? This is great if you have some sort of experience, but forget all those TV programmes you have watched if not: it’s hard work, and in the end you may have to get an expert in to complete the job effectively so have a care if you are thinking of going this route.
Be aware that different rules and regulations apply to property in Portugal. You need to know UPFRONT that you will be allowed to do what you both want and need to do to get the place in good order without having to wait years to get plans passed…that’s if they get passed at all.
Generally, restoration properties fall into two categories; those requiring full planning permission and those that don’t need any further permission at all but just some TLC. Buying a property without public utilities connected for instance is generally not a good idea. Getting mains water and electricity connected isn’t a simple process and may need planning application, which can take a very long time. I would suggest you make it a condition of purchase that you can get plans passed for work that you need to have done and that you do your research very carefully before signing anything. Your own independent lawyer would be essential here…a local recommended Portuguese lawyer who speaks English.
Unless, as previously mentioned, you have personally carried out a renovation project before, it would be advisable to get a Portuguese builder to help you. They are far cheaper than builders in the UK and there are many skilled tradesmen available at a fraction of the cost of their UK counterparts.
Generally the quality of workmanship in Portugal is very high, but you would be well advised to use someone that comes personally recommended and to ask to see examples of their completed jobs. This will give you a good idea not only of their workmanship but also of their reliability and integrity. It would also be a good idea to get your lawyer to draw up a contract outlining not only exactly what work is to be done but when it is to be done by and when payment is to be made. Payment should be on a stage-completion basis and NOT time based…
Personally I would accompany the builders to the local builders’ merchants and DIY supermarkets to buy materials. That way you supervise the cost yourself and don’t end up paying what the builder thinks you should pay! Failing that, INSIST on till slips and make it clear that this is essential upfront. I had an unpleasant wrangle with a builder once who maintained that he had ‘lost’ the slips. No slips, no payment is my future maxim.
You need to decide before repairs begin how much you are thinking of spending. Inform your builder of this and do not be coerced into going over budget. Remember that the property market is not great at the moment and, if you should want to sell in the future, you don’t want to over-capitalise in your property.
Damp is probably the most common problem in many older Portuguese properties, so be aware of this and make sure it can be sorted before rather than after you buy.
Good luck and I would be so interested in your story if you are going this route.
Have fun and speak soon,
Carol
The Overseas Guides Company
http://www.Portugalbuyingguide.com
So…you have looked far and wide and finally found an utterly delightful property with beautiful views in exactly the part of Portugal that you fancy living in - BUT – it needs extensive restoration…
There are a number of questions you need to ask yourself: how practical is this in a country that is foreign to you, working in a language that is too? And how expensive will it turn out to be? Are you planning on doing some of it yourself? This is great if you have some sort of experience, but forget all those TV programmes you have watched if not: it’s hard work, and in the end you may have to get an expert in to complete the job effectively so have a care if you are thinking of going this route.
Be aware that different rules and regulations apply to property in Portugal. You need to know UPFRONT that you will be allowed to do what you both want and need to do to get the place in good order without having to wait years to get plans passed…that’s if they get passed at all.
Generally, restoration properties fall into two categories; those requiring full planning permission and those that don’t need any further permission at all but just some TLC. Buying a property without public utilities connected for instance is generally not a good idea. Getting mains water and electricity connected isn’t a simple process and may need planning application, which can take a very long time. I would suggest you make it a condition of purchase that you can get plans passed for work that you need to have done and that you do your research very carefully before signing anything. Your own independent lawyer would be essential here…a local recommended Portuguese lawyer who speaks English.
Unless, as previously mentioned, you have personally carried out a renovation project before, it would be advisable to get a Portuguese builder to help you. They are far cheaper than builders in the UK and there are many skilled tradesmen available at a fraction of the cost of their UK counterparts.
Generally the quality of workmanship in Portugal is very high, but you would be well advised to use someone that comes personally recommended and to ask to see examples of their completed jobs. This will give you a good idea not only of their workmanship but also of their reliability and integrity. It would also be a good idea to get your lawyer to draw up a contract outlining not only exactly what work is to be done but when it is to be done by and when payment is to be made. Payment should be on a stage-completion basis and NOT time based…
Personally I would accompany the builders to the local builders’ merchants and DIY supermarkets to buy materials. That way you supervise the cost yourself and don’t end up paying what the builder thinks you should pay! Failing that, INSIST on till slips and make it clear that this is essential upfront. I had an unpleasant wrangle with a builder once who maintained that he had ‘lost’ the slips. No slips, no payment is my future maxim.
You need to decide before repairs begin how much you are thinking of spending. Inform your builder of this and do not be coerced into going over budget. Remember that the property market is not great at the moment and, if you should want to sell in the future, you don’t want to over-capitalise in your property.
Damp is probably the most common problem in many older Portuguese properties, so be aware of this and make sure it can be sorted before rather than after you buy.
Good luck and I would be so interested in your story if you are going this route.
Have fun and speak soon,
Carol
The Overseas Guides Company
http://www.Portugalbuyingguide.com
Thursday 2 December 2010
Good news - EasyJet are increasing passengers to Portugal
Low-cost airline easyJet is expecting to dramatically increase the number of passengers it carries to Portugal via its Lisbon base. For anybody thinking of buying a property in Portugal this is really good news, either for your own holiday plans or indeed to service those many people looking to rent your holiday property.
With ten new destinations due to be added to its Lisbon route map, the total number of customers arriving at the city via easyJet is predicted to rise from 1.5 million to 2.5 million each year – and that’s a lot of people! It does rather highlight the country’s increasing popularity with visitors – something that you and I know all about!
easyJet has selected Lisbon over a number of other European cities because of its market potential; they have done their homework and decided that Portugal is a growing tourist market and have acted accordingly to cater to that growing market.
Chief executive Carolyn McCall is quoted as saying: "We are making it easier to visit this beautiful country. As one of Europe's most attractive capital cities, Lisbon already attracts 3.6 million tourists and four million business travellers a year. The increase in easyJet aircraft based in Lisbon will stimulate demand and contribute to visitor numbers by over 1 million passengers a year, with clear benefits to the Portuguese economy " - and to you too!
The destinations that can be reached using the airline's flights include some of Portugal's perennial favourites, easyJet says. Among them are Sintra, the favourite village of Lord Byron – and mine I might add - along with the university town of Coimbra.
At the moment low cost airlines Basig Air, bmibaby, easyJet, Flybe, Germania Express, Germanwings, Jet 2, Norwegian, Ryanair, Snowflake, Sterling, Sterling and Virgin Express all fly in to Portugal from various points – and that doesn’t include the other airlines such as BA and TAP.
This is important news if you are thinking of buying a property to rent out: the more accessible the country is to potential visitors the more likelihood there is that you will be able to keep your home booked out throughout the tourist season at the very least.
Carol
The Overseas Guides Company
http://www.Portugalbuyingguide.com
With ten new destinations due to be added to its Lisbon route map, the total number of customers arriving at the city via easyJet is predicted to rise from 1.5 million to 2.5 million each year – and that’s a lot of people! It does rather highlight the country’s increasing popularity with visitors – something that you and I know all about!
easyJet has selected Lisbon over a number of other European cities because of its market potential; they have done their homework and decided that Portugal is a growing tourist market and have acted accordingly to cater to that growing market.
Chief executive Carolyn McCall is quoted as saying: "We are making it easier to visit this beautiful country. As one of Europe's most attractive capital cities, Lisbon already attracts 3.6 million tourists and four million business travellers a year. The increase in easyJet aircraft based in Lisbon will stimulate demand and contribute to visitor numbers by over 1 million passengers a year, with clear benefits to the Portuguese economy " - and to you too!
The destinations that can be reached using the airline's flights include some of Portugal's perennial favourites, easyJet says. Among them are Sintra, the favourite village of Lord Byron – and mine I might add - along with the university town of Coimbra.
At the moment low cost airlines Basig Air, bmibaby, easyJet, Flybe, Germania Express, Germanwings, Jet 2, Norwegian, Ryanair, Snowflake, Sterling, Sterling and Virgin Express all fly in to Portugal from various points – and that doesn’t include the other airlines such as BA and TAP.
This is important news if you are thinking of buying a property to rent out: the more accessible the country is to potential visitors the more likelihood there is that you will be able to keep your home booked out throughout the tourist season at the very least.
Carol
The Overseas Guides Company
http://www.Portugalbuyingguide.com
Thursday 25 November 2010
Will you be part of Portugal’s history? Part 2
We started off looking at Portugal’s older historical villages. The question I am most often asked is how to choose where to buy…and that’s why I have been discussing a few of the lovely old towns you may want to look at.
How do you travel? I must say that I usually have some sort of plan in my minds as to where I am going, but the first time I visited Portugal I just wandered where the wind – and my really good Cadagon Guide – took me. I have never had a more wonderful holiday and one of the places I found the most breathtaking was Marvão.
One of the reasons you may find it a great place to buy is that it is very near the Spanish border so you can easily visit both countries – or, if you are renting it out, that may be a good idea for potential rental opportunities. Not only is the town utterly breathtaking but the view is really stunning too. It is set high on top of a hill, 1000m up, and commands unrivalled views of the surrounding countryside.
From there I dropped down to Vila Viçosa. This town is utterly different: cool, shady and elegant, with a spectacular Ducal Palace that bears a visit.
Evora was next – a lovely town that is a historian’s delight. But even if you are not interested in history this town would be hard to resist. I sat in the shade, sipping on my cool drink and gazing at the roses that covered a Roman temple – I thought I had died and gone to heaven! Dare I say this myself: I think my photo is pretty good – what do you think?
Due to its location on a remote, rocky hillside, the small village of Marialva was an important military fortress in the Middle Ages and today it really is quite simply spectacular.
As with the other villages discussed, this village has ancient origins. It was inhabited as early as the 6th century BC by the Aravi tribe, who were followed by the Romans, Suevi and Arabs. The reason it was such a prized location becomes clear when you see its impregnable location.
How do you travel? I must say that I usually have some sort of plan in my minds as to where I am going, but the first time I visited Portugal I just wandered where the wind – and my really good Cadagon Guide – took me. I have never had a more wonderful holiday and one of the places I found the most breathtaking was Marvão.
One of the reasons you may find it a great place to buy is that it is very near the Spanish border so you can easily visit both countries – or, if you are renting it out, that may be a good idea for potential rental opportunities. Not only is the town utterly breathtaking but the view is really stunning too. It is set high on top of a hill, 1000m up, and commands unrivalled views of the surrounding countryside.
From there I dropped down to Vila Viçosa. This town is utterly different: cool, shady and elegant, with a spectacular Ducal Palace that bears a visit.
Evora was next – a lovely town that is a historian’s delight. But even if you are not interested in history this town would be hard to resist. I sat in the shade, sipping on my cool drink and gazing at the roses that covered a Roman temple – I thought I had died and gone to heaven! Dare I say this myself: I think my photo is pretty good – what do you think?
Due to its location on a remote, rocky hillside, the small village of Marialva was an important military fortress in the Middle Ages and today it really is quite simply spectacular.As with the other villages discussed, this village has ancient origins. It was inhabited as early as the 6th century BC by the Aravi tribe, who were followed by the Romans, Suevi and Arabs. The reason it was such a prized location becomes clear when you see its impregnable location.
Marialva is the old pilgrims’ way and still celebrates the annual holiday of St James the Apostle on 25th July. Ancient streets flanked by walls and Gothic doorways lead to a small square with a distinctly medieval atmosphere. The 16th century parish church, with a Manueline doorway, is dedicated to Santiago (St James). Crowning the town is the castle, one of the largest in the region.
The walled town of Trancoso still retains much of its medieval atmosphere too. Entering the town is an impressive experience because of its large walls, which open to form the old gate known as the Porta d’El Rei.
The walled town of Trancoso still retains much of its medieval atmosphere too. Entering the town is an impressive experience because of its large walls, which open to form the old gate known as the Porta d’El Rei.
Tomar I absolutely loved…it was also heavily influenced by the Templars. They helped the Portuguese fight the Moors in the 12th and 13th centuries were rewarded with extensive land and political power. Castles and churches were built to protect the Templars; one of those was the castle and convent of Tomar, one of Portugal's most brilliant architectural accomplishments, built in 1162.
I stayed in an utterly adorable little hotel that was practically built into the walls of the old castle. I was thrilled when one of our OGC readers bought himself a house here… I could see it so clearly in my mind’s eye…lucky Philip!
Later some time I will discuss two lovely places that are nearer the sea in case you like to get your feet wet!
Bye for now and warmest greetings,
Carol
The Overseas Guides Company
http://www.Portugalbuyingguide.com
Wednesday 17 November 2010
Historical villages in Portugal
If I was to buy a property in Portugal, be it for myself or as a rental option, my personal preference would be a house in one of the breathtakingly beautiful historical villages that dot the countryside. I have never seen such lovely towns, with such a wonderfully friendly and relaxing air, as I saw as I criss-crossed the country on my last visit. I think if I had to choose, top of my list would be Marvao, followed perhaps by the crusader influenced town of Tomar. But then there is Obidos and Sintra…and they are nearer the sea if I was considering renting the property out at all…not an easy choice!
What I thought I would do is discuss a few of these wonderful historical villages with you and, at the very least, you may like to plan your next holiday around them, take a look and perhaps make your choice that way.
Right: starting on the western side of the Serra da Estrela and in common with many of the fortified villages, the imposing towers of Linhares da Beira’s mighty castle can be seen from miles away. This was where the Lusitanians, the Iberian tribe from whom the Portuguese are descended, chose to live, followed by the Visigoths and later the Moors.
There is lots to see for visitors: be sure to visit the Igreja Matriz (parish church), which is of Romanesque origin. Inside there are three valuable paintings by the great Portuguese master Vasco Fernandes. And if it’s sport you are into, the altitude and climate make this historical village the ideal venue for paragliding too, with the Open Championship held here in August every year.
Another such village is that of Monsanto. In the second century BC the settlement is said to have resisted a Roman siege for seven years. This feat is still celebrated annually at the lovely Festival of the Crosses on May 3rd.
In the 12th century, D. Afonso Henriques gave the town (which had been captured from the Moors) to the Order of the Templars, whose Master in Portugal ordered the castle to be rebuilt. The village, which is spread over the hillside, boasts one of the loveliest landscapes in Portugal - those who feel energetic enough to make the climb up to the castle are rewarded with one of the most stunning views in the region.
However, perhaps the most important place in the village is Lucan’s Tower. Dating back to the 14th century, the tower is crowned with a silver cockerel, a trophy awarded to Monsanto in a competition in 1938 in which it was judged to be the most Portuguese village in Portugal – go figure!
Also crowned by a castle standing on a formidable rocky outcrop, the town of Sortelha preserves its medieval features in its rustic granite houses. Also the village castle used to be part of the important defensive line of frontier castles, mostly erected or rebuilt on ‘castro’ sites of the ancient Iberian civilisations.
The castle entrance is through a Gothic doorway, above which there is a balcony (Varanda de Pilatos) through which the medieval guards would hurl all kinds of missiles, such as boiling oil, at their attackers. I assure you that this is NOT the kind of welcome you can expect today! The charm of this village lies both in its medieval atmosphere and indeed its far friendlier welcome!
These are just a taste: I will continue my wanderings through some of the other villages of Portugal next week. In the meanwhile, have fun and please let me know if you are out there, just loving Portugal!
Carol Dunning
The Overseas Guides Company
Have you been to the main website yet? http://www.portugalbuyingguide.com/
What I thought I would do is discuss a few of these wonderful historical villages with you and, at the very least, you may like to plan your next holiday around them, take a look and perhaps make your choice that way.
Right: starting on the western side of the Serra da Estrela and in common with many of the fortified villages, the imposing towers of Linhares da Beira’s mighty castle can be seen from miles away. This was where the Lusitanians, the Iberian tribe from whom the Portuguese are descended, chose to live, followed by the Visigoths and later the Moors.
There is lots to see for visitors: be sure to visit the Igreja Matriz (parish church), which is of Romanesque origin. Inside there are three valuable paintings by the great Portuguese master Vasco Fernandes. And if it’s sport you are into, the altitude and climate make this historical village the ideal venue for paragliding too, with the Open Championship held here in August every year.
Another such village is that of Monsanto. In the second century BC the settlement is said to have resisted a Roman siege for seven years. This feat is still celebrated annually at the lovely Festival of the Crosses on May 3rd.
In the 12th century, D. Afonso Henriques gave the town (which had been captured from the Moors) to the Order of the Templars, whose Master in Portugal ordered the castle to be rebuilt. The village, which is spread over the hillside, boasts one of the loveliest landscapes in Portugal - those who feel energetic enough to make the climb up to the castle are rewarded with one of the most stunning views in the region.
However, perhaps the most important place in the village is Lucan’s Tower. Dating back to the 14th century, the tower is crowned with a silver cockerel, a trophy awarded to Monsanto in a competition in 1938 in which it was judged to be the most Portuguese village in Portugal – go figure!
Also crowned by a castle standing on a formidable rocky outcrop, the town of Sortelha preserves its medieval features in its rustic granite houses. Also the village castle used to be part of the important defensive line of frontier castles, mostly erected or rebuilt on ‘castro’ sites of the ancient Iberian civilisations.
The castle entrance is through a Gothic doorway, above which there is a balcony (Varanda de Pilatos) through which the medieval guards would hurl all kinds of missiles, such as boiling oil, at their attackers. I assure you that this is NOT the kind of welcome you can expect today! The charm of this village lies both in its medieval atmosphere and indeed its far friendlier welcome!
These are just a taste: I will continue my wanderings through some of the other villages of Portugal next week. In the meanwhile, have fun and please let me know if you are out there, just loving Portugal!
Carol Dunning
The Overseas Guides Company
Have you been to the main website yet? http://www.portugalbuyingguide.com/
Wednesday 10 November 2010
Driving in Portugal
I hope that you have found this series of articles useful and that you now have all the info you need to bring your car into Portugal on a permanent basis. Just to round up, here’s how to sort out bringing in a scooter or motorbike and how to get your new licence plates. Plus a few tips about the rules of the road…
The procedure for motorbikes and scooters is virtually the same as for cars and other light vehicles except that a test will be required on noise emissions. Present the following documents to the IMTT and Customs and Vehicle Registry as described previously.
- Fill out Form Model 9 and give it to the official representative of the vehicle producer in Portugal for certification (Homologacão)
- Take the motorbike or scooter to an IMTT approved test centre (IPO) for a roadworthiness test including noise inspection
You now have you car registered and the details of the vehicle's registration are recorded on the DUA (Documento Uníco Automóvel) or "All-in-One Card". This replaces the Vehicle Ownership Registration (Titulo de Registo de Propriedade) and Log Book (Livrete) card. You need your new licence plates before you get this as the number is required for the DUA.
DUAs and the registration of new or second hand vehicles can be done at a local civil registry office, the IRN (Instituto dos Registos e Notariado). Application for a change in licence plate is made through the IRN office. A new vehicle registration number or matrícula is issued, number plates are made and then fitted before your vehicle can be recorded on the DUA.
Vehicle registration documents must be carried in the car at all times, as I have mentioned before. I cannot stress this enough – there are severe penalties if they are not available when requested by officials such as the police.
Just a few pointers to driving in Portugal: it goes without saying that driving is on the right with overtaking on the left. Bear in mind that you can be fined more than €1,000 for passing a car on the right. As in most countries there is also a large fine for failing to stop at a stop sign.
You will need to give way to traffic from the right unless otherwise stated. Vehicles in roundabouts have priority over those about to enter. Should you break down and attempt to carry out repairs you are by law required to wear a reflective jacket to do so; it is also necessary to put out a warning triangle.
There is a €600 fine for anyone found to be using a mobile phone while driving, and a €300 fine for littering while driving. Remember by the way that fines can be collected on the spot!
It is also possible to lose your licence if you ignore a policeman, cross a white line or jump a red light.
It is mandatory to for all passengers to wear seatbelts in both the front and back seats. Children under the age of 12, or less than one and a half metres tall, are not allowed to sit in the front at all and must have baby or booster seats in the back.
And hopefully you will not need this at all, but the emergency service phone number is 112.
Portugal does not have a great road safety record so please have a care out there!
Carol Dunning
The Overseas Guides Company
Go to the main website at: http://www.portugalbuyingguide.com/
Thursday 4 November 2010
Importing a car into Portugal Part 5
The following owner's documents are usually also required to import a car to Portugal:
- Driver's licence (Cartão de Condução)
- Proof of identity. This can be a passport or identity card (Bilhete de Identidade))
- Proof of residency (Cartão de Residência), evidence of application for residency, or proof of residence. This could include property title deeds, rental contract, utility bills or an insurance certificate
- Taxpayer's identification card (Cartão Fiscal de Impostos or Cartão de Contribuinte) and number plus three year's tax returns or a declaration from the tax office stating income earned (in Portugal or elsewhere) over the previous three years
- A certificate of cancellation of residence issued by the former country of residence or their Consulate in Portugal
Original documents and 1 copy of all must be supplied and the Customs authority may ask that you obtain official translations of all these documents.
Only one vehicle may be imported tax-free per person once every ten years.
Once the application has been submitted, customs may issue a limited-validity authorisation (Guia de Circulação) which means the vehicle may be used while the application is in process.
It is important to remember that a vehicle that has been imported in this way may not be sold, loaned, pledged or hired for a period of 12 months following the date on which the Portuguese registration number given to you. In addition, in order to maintain eligibility for tax-free importation, you have to reside in Portugal for a minimum period of 12 months.
If your application for tax-free importation is turned down, you will be notified by the Customs authority and have to declare to tell them within 30 days what you intend to do with the vehicle. If you fail to do this, they will consider that the vehicle has been brought into Portugal illegally.
I would so love to hear from you if you have done all this. Tales abound, with each person having a different story to tell. Some say it’s unbelievably easy to sort all this out - others have real horror stories…
Next time I will round up by talking about your new licence plates and give you a bit of info about importing motorbikes and scooters for those bikers amongst us! Take care until and…keep revving!
Carol
The Overseas Guides Company
Visit my main website at: http://www.portugalbuyingguide.com/
Tuesday 26 October 2010
Importing a car into Portugal: Part 4
Hello again.
Okay, let’s continue. You have the required paperwork for the car; just a few things you need to be aware of upfront.
Road Tax or Imposto Único de Circulação) is paid annually, during the month in which the vehicle was registered, on-line at your local tax office – the Loja do Cidadão. This tax is payable in respect of all vehicles, regardless of whether or not they are in use. Proof of payment is made by showing the receipt issued by the relevant authority.
The amount of tax paid is different for vehicles registered before and after July 2007. Owners of cars registered before July 2007 pay an amount of tax directly related to the age of the vehicle and its cubic capacity. The tax on vehicles registered after July 2007 will also take into account the vehicle's CO2 emissions and the power of the engine.
Insurance. All vehicles must have at least third party insurance cover. The insurance company will provide an insurance stamp for display in the lower right-hand corner of the vehicle’s windscreen, at the time the policy is issued.
These documents, as well as the driver’s ID and licence, should be carried at all times and shown to the authorities on request.
MOT Testing and Certificates
MOT testing is compulsory in Portugal for all vehicles over four years old. Cars aged between 4-7 years must be tested every two years and thereafter every year. The test (Insepecção Periódica Obrigatória – IPO) must be carried out at an approved garage. The garage is required to request the vehicle’s ownership documents (Titulo de Registo de Propriedade and Livrete or the more recent Certificado de Matrícula) and the owner’s taxpayer’s identification card (cartão de contribuinte) before carrying out the test.
A stamp confirming that the vehicle has passed the test should be displayed below the insurance stamp, in the lower right-hand corner of the vehicle’s windscreen.
Okay, let’s continue. You have the required paperwork for the car; just a few things you need to be aware of upfront.
Road Tax or Imposto Único de Circulação) is paid annually, during the month in which the vehicle was registered, on-line at your local tax office – the Loja do Cidadão. This tax is payable in respect of all vehicles, regardless of whether or not they are in use. Proof of payment is made by showing the receipt issued by the relevant authority.
The amount of tax paid is different for vehicles registered before and after July 2007. Owners of cars registered before July 2007 pay an amount of tax directly related to the age of the vehicle and its cubic capacity. The tax on vehicles registered after July 2007 will also take into account the vehicle's CO2 emissions and the power of the engine.
Insurance. All vehicles must have at least third party insurance cover. The insurance company will provide an insurance stamp for display in the lower right-hand corner of the vehicle’s windscreen, at the time the policy is issued.
These documents, as well as the driver’s ID and licence, should be carried at all times and shown to the authorities on request.
MOT Testing and Certificates
MOT testing is compulsory in Portugal for all vehicles over four years old. Cars aged between 4-7 years must be tested every two years and thereafter every year. The test (Insepecção Periódica Obrigatória – IPO) must be carried out at an approved garage. The garage is required to request the vehicle’s ownership documents (Titulo de Registo de Propriedade and Livrete or the more recent Certificado de Matrícula) and the owner’s taxpayer’s identification card (cartão de contribuinte) before carrying out the test.
A stamp confirming that the vehicle has passed the test should be displayed below the insurance stamp, in the lower right-hand corner of the vehicle’s windscreen.
Registration is recorded at both the local customs office and the IMTT. The Portuguese authorities may ask for documents other than those listed below. It's advisable to first check on forms and documents required. The application should be made to your nearest Customs office. This application should be submitted with:
- A fiscal certificate or tax clearance form issued by customs. In some instances, there are customs and tax charges payable – this will depend on the model, power, age and mileage of the vehicle
- Original receipt of purchase showing taxes paid
- A Certificate of Compliance (Form Model 9) issued by the IMTT confirming that the vehicle has undergone an inspection
- A certificate of Homologacão from the vehicle manufacturer or certified representative in Portugal to identify that the vehicle is of a recognised type in Portugal or the EU
- A Copy of the foreign vehicle registration certificate
- A Certificate of conformity, called a COC (Certificado de Conformidade)
- A certificate of roadworthiness
The technical inspection or Inspecção Periódica Obrigatória should be made at an IMTT approved garage. This checks vehicle identification, brakes, tyres, emissions, noise levels, lights, steering, windscreen and wipers, and chassis (inside and out) condition.
Believe it or not, there’s more. I’ll complete the document list next week…that way it doesn’t look so totally overwhelming! Bye until next time, all best wishes – and keep warm!
Carol.
http://www.portugalbuyingguide.com/
Tuesday 19 October 2010
Importing a car into Portugal: Part 3
So…all ready to continue with taking that car with you to Portugal? As I write this I am wondering what the percentage of guys to gals would be that love their car so much that it just HAS to come too…
Please don’t think this is a patronising statement – I love far stranger things – like my African masks for just one example! Okay, on with the more serious business of getting your car permanently registered in Portugal.
Before you can do this you need to apply for a Residency Card (Cartão de Residência) from the Portuguese immigration authorities, SEF or Serviços de Estrangeiros e Fronteira.
As promised, here is a list of the documentation you will need to register your car. All vehicles in Portugal are required to have:
A Registration Certificate – the Certificado de Matrícula. This is issued by the Instituto de Mobilidade e dos Transportes Terrestres. The Certificado de Matrícula came into effect on 31 October 2005. For the time being, it is not compulsory to exchange existing vehicle documentation (Livrete and Título de Registo de Propriedade) as this remains valid.
OR (for vehicles registered before 31 October 2005)
An Ownership Registration Document – the Titulo de Registo de Propriedade. This is issued by the Conservatória do Registo Automóvel – the Vehicle Registration Office
AND
A Vehicle Registration Document – the Livrete. This is issued by the Instituto de Mobilidade e dos Transportes Terrestres.
To clarify, if your car was registered before 2005 you need an Ownership Registration Document (Titulo de Registo de Propriedad) plus a Vehicle Registration Document (Livrete) If registered after that date then you just need the Registration Certificate.
An imported car or bike must conform to the Portuguese road standards under what is termed "homologation" (Homologacão) before it can be registered. The complexity of the process can vary according to age, make and origin of the vehicle.
The process is different for classic and collectable vehicles. It is also different and more complicated for modified vehicles which must be examined at an authorised inspection centre to ensure the work was carried out correctly and adheres to EU safety standards.
Information is available from the directorate general for traffic, the IMTT or Instituto da Mobilidade e dos Transportes Terrestres I.P.
All clear? Whew…
More next time. I am breaking all this into bite-sized chunks so as not to completely blow your mind!
Next week then…have lots of fun and keep planning!
Carol
http://www.PortugalBuyingGuide.com
Please don’t think this is a patronising statement – I love far stranger things – like my African masks for just one example! Okay, on with the more serious business of getting your car permanently registered in Portugal.
Before you can do this you need to apply for a Residency Card (Cartão de Residência) from the Portuguese immigration authorities, SEF or Serviços de Estrangeiros e Fronteira.
As promised, here is a list of the documentation you will need to register your car. All vehicles in Portugal are required to have:
A Registration Certificate – the Certificado de Matrícula. This is issued by the Instituto de Mobilidade e dos Transportes Terrestres. The Certificado de Matrícula came into effect on 31 October 2005. For the time being, it is not compulsory to exchange existing vehicle documentation (Livrete and Título de Registo de Propriedade) as this remains valid.
OR (for vehicles registered before 31 October 2005)
An Ownership Registration Document – the Titulo de Registo de Propriedade. This is issued by the Conservatória do Registo Automóvel – the Vehicle Registration Office
AND
A Vehicle Registration Document – the Livrete. This is issued by the Instituto de Mobilidade e dos Transportes Terrestres.
To clarify, if your car was registered before 2005 you need an Ownership Registration Document (Titulo de Registo de Propriedad) plus a Vehicle Registration Document (Livrete) If registered after that date then you just need the Registration Certificate.
An imported car or bike must conform to the Portuguese road standards under what is termed "homologation" (Homologacão) before it can be registered. The complexity of the process can vary according to age, make and origin of the vehicle.
The process is different for classic and collectable vehicles. It is also different and more complicated for modified vehicles which must be examined at an authorised inspection centre to ensure the work was carried out correctly and adheres to EU safety standards.
Information is available from the directorate general for traffic, the IMTT or Instituto da Mobilidade e dos Transportes Terrestres I.P.
All clear? Whew…
More next time. I am breaking all this into bite-sized chunks so as not to completely blow your mind!
Next week then…have lots of fun and keep planning!
Carol
http://www.PortugalBuyingGuide.com
Tuesday 12 October 2010
Importing a car into Portugal: Part 2
Hi there – all well with you?
Last week I discussed the temporary admission of motor vehicles into Portugal – I will now move on to the process of bringing your car into Portugal on a permanent basis.
Permanent Importation of Motor Vehicles
You may be able to import your motor vehicle tax-free if you are transferring your residence to Portugal from another EU member state or from a third country, provided that:
Last week I discussed the temporary admission of motor vehicles into Portugal – I will now move on to the process of bringing your car into Portugal on a permanent basis.
Permanent Importation of Motor Vehicles
You may be able to import your motor vehicle tax-free if you are transferring your residence to Portugal from another EU member state or from a third country, provided that:
- You are over 18
- You have been resident in the country from where you are transferring for a minimum period of 12 months, consecutive or otherwise
- You have held a valid driver’s licence in that country for a minimum of 12 months
- You are transferring your normal place of residence to Portugal
- Your vehicle was purchased fully-tax paid in the country of your former residence and you can prove this
- You owned the vehicle in the country of your former residence for at least 12 months prior to transferring your residence to Portugal, from the date of issue of the vehicle registration document, or from the date on which the leasing contract was signed, as appropriate
If the above do not apply to you then you may well need to pay tax. This can be a very expensive business – be warned. The tax has gone up substantially in the past few years. There is a lot of pressure being applied to the Portuguese Government, including The EU itself, to stop the ISV tax but it seems that they are still charging it.
Having said that, remember that the regulations change all the time so you should always check with your local Portuguese Customs Office once the time draws near.
In order to import a vehicle and to register it in Portugal, you should submit an application within six months of the date on which you transfer your residence to Portugal.
Next time I am going to discuss where you go to register your car and what documents you will need – and there are plenty! There always are, aren’t there?
I have a busy little time ahead: that’s the sheer beauty of London! I am off to hear a talk with my son by the rather contentious author James Ellroy and I’m taking in The Apprentice at the Riverside Studios near my home – this with Sirallun…Sir Alan Sugar to those uninitiated! What makes you think I find difficult men interesting…at a distance I hasten to add?
We’ll talk next week – have loads of fun until then.
All the best,
Carol
http://www.portugalbuyingguide.com/
Tuesday 5 October 2010
Importing a car into Portugal
A question I am often asked is about the permanent registration of cars in Portugal. As you may know, new cars are very expensive there – ridiculously so many people think - so the idea of taking yours with you may be tempting if you are moving there permanently. What you do need to bear in mind is that there is a fair amount of hassle and paperwork to get through - I thought I would let you have some of the details about this over the next few weeks. Let’s start at the very beginning…
Temporary Admission of Motor Vehicles
An EU-registered motor vehicle (including light goods vehicles, trailers, caravans, motorised homes and motorcycles) may be kept in Portugal for 183 days, consecutive or otherwise, in any one period of 12 months, provided all of the following conditions are met:
- The vehicle has been registered in another EU member country
- The vehicle is registered in the name of a person who is not resident, employed or carrying out any type of paid activity in Portugal
- The vehicle is brought into Portugal by its registered owner
If you travel in and out then it is advisable to get proof of each entry/exit. If you have a holiday home in Portugal and only use your car for 2 weeks of the year but keep it in Portugal, then the car is classed as being used here and the rules apply. The 183 days do not need to be consecutive, if the authorities can show that you have had the car inside Portugal for this time then they will apply the law.
Vehicles brought into Portugal temporarily may only be driven by their owners, their owner’s spouse or common-law spouse, their owner’s parents or children or their registered keeper provided none of these individuals are resident, employed or carrying out paid activity in Portugal.
Under the temporary admission regime, foreign residents in Portugal may only use a foreign-registered vehicle if so authorised by the Customs authority. For the purpose of the legislation on the temporary admission of motor vehicles into Portugal, a resident is defined as spending a period of at least 183 days or more, consecutively or otherwise, in any one calendar year, in Portugal, or whose source of income from paid employment is inPortugal, or whose headquarters or established business activity is in Portugal.
If you are here on a specific term, temporary work contract or as a student or any other reason and you plan to take it back to your home country (even if longer than 183 days) you can avoid importing it. In this case you need to contact your local customs office as soon as you arrive in Portugal to register this intent.
If you fail to comply with the Portuguese law on foreign car use regulations and you are caught, then the Portuguese Customs Office has the power to impound your car. If this happens you will be directed not to use your car other than when you present yourself at your nearest customs office. You may be fined up to €15,000.00 and they will give you the following three options;
- You can start the registration process by paying the ISV
- You agree to a date when you will drive the car out of Portugal, they will give you written permission to drive it on that date only
- You give them the keys and they keep the car and destroy it – horrors!
Right, next week I am going to go ahead and describe the whys and wherefores of the permanent export procedures in more detail. In the meanwhile, have fun! Weather permitting I am off on an Art Deco walk tomorrow. The last walk – to the iconic Hammersmith Bridge – was cancelled due to rain so I hope the same thing doesn’t happen – cross fingers for me!
Smiles and waves,
Carol.
http://www.portugalbuyingguide.com/
Friday 24 September 2010
Moving Overseas - Am I making the right decision?
The idea to move abroad is born - and with it comes excitement, anticipation and a renewed sense of direction.
At first, there is just a small thought that sparks and we ask ourselves, “Could it be achievable?” Then a plethora of possibilities opens up. Not before long, we are enquiring about property prices, cost of living and employment. Our daydreams turn to visualisations of our possible new life overseas. We see ourselves smiling more - and enjoying life with increased vigour.
Most people have the idea and the spark, but soon lose their drive. They are the people who grow old and say, “If only.”
Then there are those who have the passion and desire to carry their plans to fruition. Regardless as to your resolve, however, there will always be times when you doubt yourself. Your excitement will allow you to make massive strides, but at some point you will stop to catch your breath and wonder if you are making the right decision.
Mrs Turner, new to the world of overseas living, explained “I spent all my spare time planning, preparing and ticking off endless lists. After a few months I felt overwhelmed – was I merely caught up in ‘living the dream’ or did I truly understand what was to come? And how could I make sure that I wasn’t making a big mistake?”
Unfortunately, there are quite a few people who return to the UK not long after an overseas move. Sometimes people repatriate due to health matters, missing family or simply missing their old way of life. Others move back because the dreams they floated on did not match the reality.
One way to ensure that you are making the right decision is to “play house” in your overseas location.
Try to make arrangements to stay in your desired location for as long as possible, be it a few weeks or a month. Then make plans to enjoy the location without being a tourist. This means rather than stay in a hotel, rent a villa or better yet, do a house swap. Instead of visiting the main attractions, check out all the things that locals do. Go grocery shopping, check out employment adverts and do everything you would normally do if you were moving from one town in the UK to another.
When Mrs Turner felt overwhelmed, she decided to book a two week trip to her future destination. Although she had spent several holidays there, she never spent the duration knowing that it would one day be called “home.”
Mrs Turner said, ‘It was the best decision I made. By spending two weeks in my future town I was able to better set my expectations. I went to the doctors, paid a visit to a community centre, made enquiries about a local art class and made sure to eat most of my meals at home. By the end of the two weeks, I realised that some of my expectations were a bit too high whereas others were too low. Overall, the holiday gave me the needed push to set me back on track.”
By giving yourself time to be a resident, rather than a tourist, you will get a more realistic idea of life in your desired location. As with Mrs Turner, time spent in your future destination may also give you even more reason to fulfil your plans.
As with all areas in the world, there will be pros and cons and without experiencing life as a local, it is very easy to make a move without knowing exactly what the negatives and positives are.
Spending time on holiday is very different from making a holiday destination a home.
During the process of playing “house”, you might want to test public transport to see how reliable it is, stroll through the area at different times of the day to listen out for noise, buy the type of groceries you normally purchase to determine if they are available and at what price - and definitely check out health services – how far away are they and will they cater to your needs?
The more you match your needs to your overseas destination, the less likely you will be to ask, “Am I making the right decision?”
Carol Dunning
http://www.portugalbuyingguide.com
At first, there is just a small thought that sparks and we ask ourselves, “Could it be achievable?” Then a plethora of possibilities opens up. Not before long, we are enquiring about property prices, cost of living and employment. Our daydreams turn to visualisations of our possible new life overseas. We see ourselves smiling more - and enjoying life with increased vigour.
Most people have the idea and the spark, but soon lose their drive. They are the people who grow old and say, “If only.”
Then there are those who have the passion and desire to carry their plans to fruition. Regardless as to your resolve, however, there will always be times when you doubt yourself. Your excitement will allow you to make massive strides, but at some point you will stop to catch your breath and wonder if you are making the right decision.
Mrs Turner, new to the world of overseas living, explained “I spent all my spare time planning, preparing and ticking off endless lists. After a few months I felt overwhelmed – was I merely caught up in ‘living the dream’ or did I truly understand what was to come? And how could I make sure that I wasn’t making a big mistake?”
Unfortunately, there are quite a few people who return to the UK not long after an overseas move. Sometimes people repatriate due to health matters, missing family or simply missing their old way of life. Others move back because the dreams they floated on did not match the reality.
One way to ensure that you are making the right decision is to “play house” in your overseas location.
Try to make arrangements to stay in your desired location for as long as possible, be it a few weeks or a month. Then make plans to enjoy the location without being a tourist. This means rather than stay in a hotel, rent a villa or better yet, do a house swap. Instead of visiting the main attractions, check out all the things that locals do. Go grocery shopping, check out employment adverts and do everything you would normally do if you were moving from one town in the UK to another.
When Mrs Turner felt overwhelmed, she decided to book a two week trip to her future destination. Although she had spent several holidays there, she never spent the duration knowing that it would one day be called “home.”
Mrs Turner said, ‘It was the best decision I made. By spending two weeks in my future town I was able to better set my expectations. I went to the doctors, paid a visit to a community centre, made enquiries about a local art class and made sure to eat most of my meals at home. By the end of the two weeks, I realised that some of my expectations were a bit too high whereas others were too low. Overall, the holiday gave me the needed push to set me back on track.”
By giving yourself time to be a resident, rather than a tourist, you will get a more realistic idea of life in your desired location. As with Mrs Turner, time spent in your future destination may also give you even more reason to fulfil your plans.
As with all areas in the world, there will be pros and cons and without experiencing life as a local, it is very easy to make a move without knowing exactly what the negatives and positives are.
Spending time on holiday is very different from making a holiday destination a home.
During the process of playing “house”, you might want to test public transport to see how reliable it is, stroll through the area at different times of the day to listen out for noise, buy the type of groceries you normally purchase to determine if they are available and at what price - and definitely check out health services – how far away are they and will they cater to your needs?
The more you match your needs to your overseas destination, the less likely you will be to ask, “Am I making the right decision?”
Carol Dunning
http://www.portugalbuyingguide.com
Friday 17 September 2010
Pensions when moving abroad
Hello – and how are you?
It’s been a lovely quiet week for me. However, the weekend is looking busy, with ‘Satchmo Remembered’ at the V&A Café on Friday – Louis Armstrong’s music. And then on Saturday I am going to see what is described as a top-notch comedy cast of Mackenzie Crook, Ralf Little and Olly Alexander as a trio of slackers who spend their days loitering outside a Vermont coffee shop. All this at the tiny theatre at Shepherd’s Bush. It’s great ‘cos you can actually lean out and touch the actors should you so desire – I won’t – I promise! I saw the lovely Joseph Fiennes here – it’s a great venue and my son is joining me so that should be enormous fun.
So – are you still thinking of buying a home abroad? And are you actually going to be moving permanently? Reason I ask is that today, with our finances sorely strained as they are, it’s important to know how this will affect taxation on any pension you may receive from the UK.
Once you're a resident abroad what you need to ascertain is how your new home country and the UK will divide up the tax. Even if you are a non-resident of the UK, you are taxed on income earned in the UK – and this includes any pension emanating from the UK - but does that mean that you end up paying twice?
This is where those vitally important Double Tax Treaties (DTT) come into play. There are specific provisions in Double Tax Treaties that can impact on this, and in particular there is a distinction made between government and non governmental pensions.
You would need to review any applicable Double Tax Treaty between the UK and your new country of residence very carefully before rather than after moving: any relief available depends upon the terms of each DTT. And of course you will need to know exactly how to set about making sure that you do the right thing to avoid any duplication of tax. If a benefit applies you can then make a claim with HMRC for the pension to be paid either:
- Without tax deducted
- With tax deducted at a reduced rate of tax as laid down in the DT Treaty
You should take expert and detailed advice on this – if you need help finding a reputable IFA (Independent Financial Advisor) please call the OGC Resource Centre on 0207 898 0549 and they will help to find one. I think it’s really important to think about this before you even think of moving –after all, you may be reliant on your pension income and you need to budget well in advance.
I will chat to you next week: winter is just around the corner and already it feels to me that the colder weather is on its way. I am looking forward to a holiday I have planned in sunny Morocco in October…!
Best wishes,
Carol.
It’s been a lovely quiet week for me. However, the weekend is looking busy, with ‘Satchmo Remembered’ at the V&A Café on Friday – Louis Armstrong’s music. And then on Saturday I am going to see what is described as a top-notch comedy cast of Mackenzie Crook, Ralf Little and Olly Alexander as a trio of slackers who spend their days loitering outside a Vermont coffee shop. All this at the tiny theatre at Shepherd’s Bush. It’s great ‘cos you can actually lean out and touch the actors should you so desire – I won’t – I promise! I saw the lovely Joseph Fiennes here – it’s a great venue and my son is joining me so that should be enormous fun.
So – are you still thinking of buying a home abroad? And are you actually going to be moving permanently? Reason I ask is that today, with our finances sorely strained as they are, it’s important to know how this will affect taxation on any pension you may receive from the UK.
Once you're a resident abroad what you need to ascertain is how your new home country and the UK will divide up the tax. Even if you are a non-resident of the UK, you are taxed on income earned in the UK – and this includes any pension emanating from the UK - but does that mean that you end up paying twice?
This is where those vitally important Double Tax Treaties (DTT) come into play. There are specific provisions in Double Tax Treaties that can impact on this, and in particular there is a distinction made between government and non governmental pensions.
You would need to review any applicable Double Tax Treaty between the UK and your new country of residence very carefully before rather than after moving: any relief available depends upon the terms of each DTT. And of course you will need to know exactly how to set about making sure that you do the right thing to avoid any duplication of tax. If a benefit applies you can then make a claim with HMRC for the pension to be paid either:
- Without tax deducted
- With tax deducted at a reduced rate of tax as laid down in the DT Treaty
You should take expert and detailed advice on this – if you need help finding a reputable IFA (Independent Financial Advisor) please call the OGC Resource Centre on 0207 898 0549 and they will help to find one. I think it’s really important to think about this before you even think of moving –after all, you may be reliant on your pension income and you need to budget well in advance.
I will chat to you next week: winter is just around the corner and already it feels to me that the colder weather is on its way. I am looking forward to a holiday I have planned in sunny Morocco in October…!
Best wishes,
Carol.
Friday 10 September 2010
Emigrating Overseas?
Hi there: how are you? Summer seems to be receding further and further away…roll on my holiday to Morocco in October, where the weather no doubt will be lovely!
I have been chatting to a number of people recently about emigrating: many are the reason they give but one of the chief ones seems to be lack of employment here in the UK. When you hear news like social housing firm Connaught, which employs 10,000 people, going into administration on Wednesday it is food for thought indeed. But the question is: will it be any easier to find employment abroad - and how will you set about doing this?
First, the nuts and bolts. EU citizens are not required to have a work permit in order to work in the EU. However, you will need proof of residency once you do get a job. To do this you usually apply to the Immigration Department. Non-EU citizens are generally required to have a work permit and a residence permit in order to be employed abroad and can be a harder nut to crack.
There is no doubt about it: first prize is either to get a transfer abroad via your present form or to line up a job before you move. You may think of contacting the local embassy of the country you are thinking of moving to for assistance, or perhaps find yourself a blog or Internet site that deals with getting jobs in the country you are planning to move to.
If that fails, what next?
As an English speaker, the first job that springs to mind is that of teaching English – of course this only really applies in countries where the first language is not English.In most countries there is a desire to learn English, not the least as it is generally considered the business language of the world.
While still in the UK you can search for teaching jobs in publications such as the TES (Times Educational Supplement) and the Guardian EFL pages on Tuesdays. Alternatively, certain ESL (English as a Second Language) websites like ESL employment and tefl.com can be useful. Upon arrival you can try local newspapers or perhaps employment agencies or international companies. Some British Council offices are helpful too as they produce lists of local schools and can point you in the right direction.
Tourism is another promising field of employment that you could try; jobs here are mainly available in the summer. You may think that this sort of work won’t pay the bills for ever but at least you can be looking around while earning a few cents.
For business related opportunities, the bigger cities should be your focus.
How to seek out jobs:
Self-employment
I hope this has given you a few ideas. I’d love to hear if your plans include working abroad and, if so, what your strategy is?
In the meanwhile, I am going to get back to my job of happily tapping away on my computer in the good old UK! Take care until next week,
Carol.
I have been chatting to a number of people recently about emigrating: many are the reason they give but one of the chief ones seems to be lack of employment here in the UK. When you hear news like social housing firm Connaught, which employs 10,000 people, going into administration on Wednesday it is food for thought indeed. But the question is: will it be any easier to find employment abroad - and how will you set about doing this?
First, the nuts and bolts. EU citizens are not required to have a work permit in order to work in the EU. However, you will need proof of residency once you do get a job. To do this you usually apply to the Immigration Department. Non-EU citizens are generally required to have a work permit and a residence permit in order to be employed abroad and can be a harder nut to crack.
There is no doubt about it: first prize is either to get a transfer abroad via your present form or to line up a job before you move. You may think of contacting the local embassy of the country you are thinking of moving to for assistance, or perhaps find yourself a blog or Internet site that deals with getting jobs in the country you are planning to move to.
If that fails, what next?
As an English speaker, the first job that springs to mind is that of teaching English – of course this only really applies in countries where the first language is not English.In most countries there is a desire to learn English, not the least as it is generally considered the business language of the world.
While still in the UK you can search for teaching jobs in publications such as the TES (Times Educational Supplement) and the Guardian EFL pages on Tuesdays. Alternatively, certain ESL (English as a Second Language) websites like ESL employment and tefl.com can be useful. Upon arrival you can try local newspapers or perhaps employment agencies or international companies. Some British Council offices are helpful too as they produce lists of local schools and can point you in the right direction.
Tourism is another promising field of employment that you could try; jobs here are mainly available in the summer. You may think that this sort of work won’t pay the bills for ever but at least you can be looking around while earning a few cents.
For business related opportunities, the bigger cities should be your focus.
How to seek out jobs:
English periodicals. Here you will find a selection of jobs from teaching to secretarial, advertising and sales
Job agencies, especially in the larger cities. Remember to have your CV and references to hand
Ask around - try that friendly shop owner, or pop into an Estate Agent...if they don’t have anything, they may know someone who has. Personal contacts can be very helpful when looking for a job
Contact working expats, either personally or through the Internet: they have been where you are and may well be able to help
Place ads in papers, bar notice boards, at the golf course, in shops etc.
Other options:
A large number of UK recruitment agencies have permanent bases abroad – ask large employment agencies in the UK before you move if they have an office in the country you are moving to
Try informal methods of recruitment such as word of mouth, networking and speculative applications, especially for small and medium-sized companies.
Self-employment
If you are an EU national or a permanent resident with a residence card you can work in a EU country as a self-employed person or a sole trader. As such, you must meet certain legal requirements and register with the appropriate organisation.
Getting started in your own business
Just a few very basic points:If you plan to run your own business, give careful consideration to where you will be living in relation to your customers
Make sure that you are doing something that is different, something that will benefit your potential customers and make them more inclined to deal with you
Be sure that there is enough demand for your product or service and that there are sufficient customers to keep you in business
There are very few businesses that are profitable from the start. It’s therefore very important that you budget for start up costs and that you have sufficient funds to keep you and your family going until the business starts to make a profit.
I hope this has given you a few ideas. I’d love to hear if your plans include working abroad and, if so, what your strategy is?
In the meanwhile, I am going to get back to my job of happily tapping away on my computer in the good old UK! Take care until next week,
Carol.
Friday 3 September 2010
Non-Resident Status in the UK
Hey there – how are you? I am off to an outdoors Blues concert tonight…very brave of me I might add! The last one I attended saw me sitting like a ghostly wraith in the pouring rain, in a waterproof poncho thoughtfully provided by concert hosts. It was most enjoyable but did I ever get the mother and father of all colds! Wish me luck tonight…
A question I am often asked these days by people who are moving abroad is this: exactly when are you considered to be a UK resident, or to turn this question on its head, when are you considered a non-resident? This has become one of the most controversial and worrisome aspects of emigration recently, largely due to the tax implications that accompany it.
Evidently, according to a recent Court of Appeal decision in the long drawn out Gaines Cooper saga, it is no longer enough to conform to the rules as laid down by HM Revenue & Customs. These laid down that, to prove non-residency, you needed only to show that you didn’t spend more than 90 days a year on average in Britain over four years.
Now the taxman is allowed to scrutinise in more detail whether non-residents have made what they consider to be enough of a break from the UK.
So…how do you make sure that you qualify for non-resident status?
In most EU countries an individual is not considered a resident unless 183 days are spent there each year. In the UK, it is 90 days on a rolling four-year average, although you can spend up to 183 days in any given year. Things like visiting offspring or grandchildren in the UK will count toward your 90-day limit. Incidentally there are dispensations if you are visiting someone because of an emergency. If a member of your family is terminally ill for example, you may be able to stay for more than the average 90 days over four years. However, you would not be able to stay for more than 183 days in any given year without risking your status.
But this is no longer the only criterion; continuing connections with the country will now be taken into account, and this can be a very grey area.
Keeping a house or a car in the UK, maintaining membership of a private club, or even regularly attending social events such as Royal Ascot or Wimbledon can now be used against you in terms of proving your non-resident status. Needless to say, this new vigilance has largely been brought about in an effort to check up on those seeking to avoid the new 50% tax rate imposed on the super-rich.
Individuals must prove an intention to leave the UK permanently or indefinitely. Recent Court decisions on residence tend to be in favour of HMRC and there is no doubt that they are actively pursuing cases where, in its view, the taxpayer has not done enough to demonstrate that they have ceased to be UK resident.
What does this mean to you? Well, the bottom line is that you need to sever as many ties with the UK as possible. It is no longer sufficient just to stay abroad for the obligatory period and tally up days spent in the UK. You have to be able to demonstrate a complete break with the country.
To do this you may want to consider adopting the following measures:
Property in the UK:
A question I am often asked these days by people who are moving abroad is this: exactly when are you considered to be a UK resident, or to turn this question on its head, when are you considered a non-resident? This has become one of the most controversial and worrisome aspects of emigration recently, largely due to the tax implications that accompany it.
Evidently, according to a recent Court of Appeal decision in the long drawn out Gaines Cooper saga, it is no longer enough to conform to the rules as laid down by HM Revenue & Customs. These laid down that, to prove non-residency, you needed only to show that you didn’t spend more than 90 days a year on average in Britain over four years.
Now the taxman is allowed to scrutinise in more detail whether non-residents have made what they consider to be enough of a break from the UK.
So…how do you make sure that you qualify for non-resident status?
In most EU countries an individual is not considered a resident unless 183 days are spent there each year. In the UK, it is 90 days on a rolling four-year average, although you can spend up to 183 days in any given year. Things like visiting offspring or grandchildren in the UK will count toward your 90-day limit. Incidentally there are dispensations if you are visiting someone because of an emergency. If a member of your family is terminally ill for example, you may be able to stay for more than the average 90 days over four years. However, you would not be able to stay for more than 183 days in any given year without risking your status.
But this is no longer the only criterion; continuing connections with the country will now be taken into account, and this can be a very grey area.
Keeping a house or a car in the UK, maintaining membership of a private club, or even regularly attending social events such as Royal Ascot or Wimbledon can now be used against you in terms of proving your non-resident status. Needless to say, this new vigilance has largely been brought about in an effort to check up on those seeking to avoid the new 50% tax rate imposed on the super-rich.
Individuals must prove an intention to leave the UK permanently or indefinitely. Recent Court decisions on residence tend to be in favour of HMRC and there is no doubt that they are actively pursuing cases where, in its view, the taxpayer has not done enough to demonstrate that they have ceased to be UK resident.
What does this mean to you? Well, the bottom line is that you need to sever as many ties with the UK as possible. It is no longer sufficient just to stay abroad for the obligatory period and tally up days spent in the UK. You have to be able to demonstrate a complete break with the country.
To do this you may want to consider adopting the following measures:
Property in the UK:
- Sell your UK property or let it out for at least 12 months - do not leave it unoccupied
- If you are letting the property, ask a UK agent to deal with the property on your behalf
- Pay all property bills before you depart the UK
- Notify your house insurers that you are emigrating and adjust the insurance accordingly
- Notify your mortgage lender that you are emigrating
- Notify your local council that you no longer reside at the property
Business matters in the UK:
- Consider resigning from any UK company directorships or company secretarial positions
- Consider disposing of your UK business interests altogether
Other UK matters:
- Notify your UK doctor and dentist that you have left the UK
- Cancel your UK sporting and social club memberships
- You would be wise to appoint an attorney in the UK who is empowered to deal with your UK affairs
Taxes
- Send the completed form P85 to HMRC, declaring that you are a non-resident
- You would be well advised not to return to the UK for an entire tax year if possible to emphasise the break in residence
- Do not return to the UK for more than 90 days a year in subsequent tax years, remembering to factor in travel days in this number
Finances
- Cancel all UK credit cards and reduce balances in your UK bank accounts
- Pay all UK accounts and close them. Demand evidence that they are closed in the form of a letter of acknowledgement
- Consider transferring pension arrangements overseas.
Cars
- Sell your car and cancel your car insurance and subscriptions to motoring organisations
In your new country of residence - once you have moved abroad:
- Establish employment or business links in the new country if you are planning to work there
- Obtain a residence permit where necessary
- Contact the local tax authorities to inform them that you have become a resident
- Purchase or rent on a long lease a property locally and buy a car there
- Register with a doctor and dentist in your new country of residence and open a local bank account
- Establish social and cultural connections in your new homeland. Perhaps join clubs, register children at schools etc.
- Have a will drawn up in your new country of residence
What you need to do is make sure that you have effectively cut off ties with the UK in terms of living here. The overall pattern of your life must reflect your declared non-resident status and the fact that you have left the UK for the foreseeable future.
Friday 27 August 2010
Am I Making the Right Decision to Move Abroad?
I have just been chatting to a local London friend of mine on the phone. “Are you missing your South African friend now that she’s returned home after her two week stay?” was her question to me. I found it difficult to answer – yes…and no! Truth is I am utterly exhausted - I fair wore myself out!
There is so much to do in London: I have a friend with a longboat so we sailed from Windsor to Hampton Court – it was wonderful. We also attended a colleague’s hen party and behaved rather badly! Plus saw Martin Shaw in a play at Richmond, went to the musical ‘Wicked’, paid a fiver to watch ‘The Merry Wives of Windsor’ at the Globe and attended a memorial to ‘The Few’ of the Battle of Britain outside the Churchill War Rooms which ended with a fly past of a Hurricane and a Spitfire: what a way to end two weeks of London fun. I now need a holiday…!
Talking to my friend, I was trying to persuade her to move abroad. She’s quite keen but scared of the unknown factors…and who of us who have moved weren’t? Most people have the idea and the initial spark, but soon lose their drive. These are the people live to say “If only” in their old age! Then there are those who have the passion and desire to carry their plans to fruition…but inevitably, at some stage, find themselves stopping to catch their breath and to wonder if they are making the right decision.
An OGC reader I spoke to, when planning her move abroad, found exactly that: “I spent all my spare time planning, preparing and ticking off endless lists. After a few months I felt overwhelmed – was I merely caught up in ‘living the dream’ or did I truly understand what lay ahead? And how could I make sure that I wasn’t making a big mistake?”
I have chatted to people who have found that the move wasn’t right for them and they moved back to the UK almost immediately – at massive cost needless to say. So how do you make sure that the decision is right for you?
One way is to ‘play house’ at your overseas location. Try to make arrangements to stay for as long as possible on your next visit. Then plan to experience the place as someone who lives there would. This means that, rather than staying in a hotel, you rent an apartment or a villa or – first prize - do a house swap. Instead of visiting the main attractions, check out all the things that the locals do. Go grocery shopping, look at employment adverts and do everything you would normally do if you were moving from one town to another in the UK.
My afore-mentioned OGC reader decided to book a two week trip to her intended relocation destination. Although she had spent several holidays there, she had never done so with the intention of one day calling it home. She said it was the best decision ever: “By spending two weeks in my future town I was able to better set my expectations. I visited the doctor, paid a visit to a community centre, made enquiries about a local art class and made sure to eat most of my meals at home. By the end of the two weeks, I realised that some of my expectations were a bit too high whereas others were too low. Overall, the holiday gave me what I needed to get back on track.”
You might want to test public transport to see how reliable it is, stroll through the area at different times of the day to listen out for noise, buy the type of groceries you normally purchase to determine if they are available and at what price – and definitely check out health services. How far away are they and will they cater to all your needs?
By giving yourself time as a resident rather than a tourist, you will get a more realistic idea of daily life in your desired location. Of course there will be pros and cons but, without experiencing life as a local, you will be making the move without knowing exactly what those pros and cons are. The more you match your requirements and your expectations to your overseas destination, the less likely you will be to ask, “Am I making the right decision to move abroad?”
There is so much to do in London: I have a friend with a longboat so we sailed from Windsor to Hampton Court – it was wonderful. We also attended a colleague’s hen party and behaved rather badly! Plus saw Martin Shaw in a play at Richmond, went to the musical ‘Wicked’, paid a fiver to watch ‘The Merry Wives of Windsor’ at the Globe and attended a memorial to ‘The Few’ of the Battle of Britain outside the Churchill War Rooms which ended with a fly past of a Hurricane and a Spitfire: what a way to end two weeks of London fun. I now need a holiday…!
Talking to my friend, I was trying to persuade her to move abroad. She’s quite keen but scared of the unknown factors…and who of us who have moved weren’t? Most people have the idea and the initial spark, but soon lose their drive. These are the people live to say “If only” in their old age! Then there are those who have the passion and desire to carry their plans to fruition…but inevitably, at some stage, find themselves stopping to catch their breath and to wonder if they are making the right decision.
An OGC reader I spoke to, when planning her move abroad, found exactly that: “I spent all my spare time planning, preparing and ticking off endless lists. After a few months I felt overwhelmed – was I merely caught up in ‘living the dream’ or did I truly understand what lay ahead? And how could I make sure that I wasn’t making a big mistake?”
I have chatted to people who have found that the move wasn’t right for them and they moved back to the UK almost immediately – at massive cost needless to say. So how do you make sure that the decision is right for you?
One way is to ‘play house’ at your overseas location. Try to make arrangements to stay for as long as possible on your next visit. Then plan to experience the place as someone who lives there would. This means that, rather than staying in a hotel, you rent an apartment or a villa or – first prize - do a house swap. Instead of visiting the main attractions, check out all the things that the locals do. Go grocery shopping, look at employment adverts and do everything you would normally do if you were moving from one town to another in the UK.
My afore-mentioned OGC reader decided to book a two week trip to her intended relocation destination. Although she had spent several holidays there, she had never done so with the intention of one day calling it home. She said it was the best decision ever: “By spending two weeks in my future town I was able to better set my expectations. I visited the doctor, paid a visit to a community centre, made enquiries about a local art class and made sure to eat most of my meals at home. By the end of the two weeks, I realised that some of my expectations were a bit too high whereas others were too low. Overall, the holiday gave me what I needed to get back on track.”
You might want to test public transport to see how reliable it is, stroll through the area at different times of the day to listen out for noise, buy the type of groceries you normally purchase to determine if they are available and at what price – and definitely check out health services. How far away are they and will they cater to all your needs?
By giving yourself time as a resident rather than a tourist, you will get a more realistic idea of daily life in your desired location. Of course there will be pros and cons but, without experiencing life as a local, you will be making the move without knowing exactly what those pros and cons are. The more you match your requirements and your expectations to your overseas destination, the less likely you will be to ask, “Am I making the right decision to move abroad?”
Friday 20 August 2010
Why I would think of buying property in Portugal
Hey – how are you today?
I am still racing around London showing off my ‘home town’ to my South African friend! The highlight of this week is going to be the Spitfire and Hurricane fly-past over Whitehall at 4pm, Friday 20th August 2010, commemorating the 70th anniversary of the Battle of Britain. The flyover is preceded by a reading of Winston Churchill's speech outside the Churchill War Rooms at 3.52pm.” Never in the field of human conflict...” and all that! I am really looking forward to it.
People often ask me why I would think of buying property in Portugal. It’s not as well known as Spain as a property destination but to me that’s half its charm! It's an inexpensive and fascinating country that is still catching up with the rest of Europe after forty years of dictatorship. This means that it has a far more rural, unspoilt feel and of course it often means that it costs less to live or holiday there.
Portugal, meaning ‘beautiful port’, has miles of unspoilt coastline coupled with a unique culture and a rich history. When I last travelled around I could not believe the beauty and the cultural heritage that I found in even the smallest towns and villages.
Many of the greatest seafarers and explorers were born in Portugal, and the Portuguese Empire once stretched from Brazil to the Indies, with Portuguese the most widely spoken language in the world. Today Portugal’s beaches and ports are far more likely to be catering to happy tourists. The long sandy beaches of the Algarve are well known, but all along the coastline there are opportunities to enjoy a whole selection of water sports in crystal clear waters, all to be enjoyed in the lovely warm climate, with temperatures of around 35°C in summer.
Inland, small towns and villages are surrounded with olive groves, vineyards and fruit trees. I went in spring and it was so delightful to walk through fields of spring flowers. There are also vast national parks, thickly forested and with an abundance of wildlife. To the north are snow-capped mountains, while to the south are the gently rolling plains where locals farm their lands.
Let’s not forget too the wonderful festivals with almost every town and village celebrating a regular saint’s day with a festival, usually in summer. There is also of course an endless selection of historic attractions plus many beautiful architectural gems. My especial favourite is the Palace of Pena at Sintra, which beautifully combines gothic, Islamic, and renaissance styles. I also love the ancient ramparts around towns like Ronda and Óbidos – one of the things I loved doing was walking around the whole of Óbidos along the walls – it’s a great way to see how the locals live!
To top it all off, there are also a number of excellent golf courses, plus other sporting facilities – but all pale into comparison with football, that Portuguese obsession, which you can watch from the many stadiums dotting the country. So…the question really is: why wouldn’t everyone think of buying property in Portugal? Do you feel the same? Please tell me of your experiences and why you are looking at moving to Portugal – or why you love the country so much.
Bye for now and happy summer days, Carol.
http://www.portugalbuyingguide.com
I am still racing around London showing off my ‘home town’ to my South African friend! The highlight of this week is going to be the Spitfire and Hurricane fly-past over Whitehall at 4pm, Friday 20th August 2010, commemorating the 70th anniversary of the Battle of Britain. The flyover is preceded by a reading of Winston Churchill's speech outside the Churchill War Rooms at 3.52pm.” Never in the field of human conflict...” and all that! I am really looking forward to it.
People often ask me why I would think of buying property in Portugal. It’s not as well known as Spain as a property destination but to me that’s half its charm! It's an inexpensive and fascinating country that is still catching up with the rest of Europe after forty years of dictatorship. This means that it has a far more rural, unspoilt feel and of course it often means that it costs less to live or holiday there.
Portugal, meaning ‘beautiful port’, has miles of unspoilt coastline coupled with a unique culture and a rich history. When I last travelled around I could not believe the beauty and the cultural heritage that I found in even the smallest towns and villages.
Many of the greatest seafarers and explorers were born in Portugal, and the Portuguese Empire once stretched from Brazil to the Indies, with Portuguese the most widely spoken language in the world. Today Portugal’s beaches and ports are far more likely to be catering to happy tourists. The long sandy beaches of the Algarve are well known, but all along the coastline there are opportunities to enjoy a whole selection of water sports in crystal clear waters, all to be enjoyed in the lovely warm climate, with temperatures of around 35°C in summer.
Inland, small towns and villages are surrounded with olive groves, vineyards and fruit trees. I went in spring and it was so delightful to walk through fields of spring flowers. There are also vast national parks, thickly forested and with an abundance of wildlife. To the north are snow-capped mountains, while to the south are the gently rolling plains where locals farm their lands.
Let’s not forget too the wonderful festivals with almost every town and village celebrating a regular saint’s day with a festival, usually in summer. There is also of course an endless selection of historic attractions plus many beautiful architectural gems. My especial favourite is the Palace of Pena at Sintra, which beautifully combines gothic, Islamic, and renaissance styles. I also love the ancient ramparts around towns like Ronda and Óbidos – one of the things I loved doing was walking around the whole of Óbidos along the walls – it’s a great way to see how the locals live!
To top it all off, there are also a number of excellent golf courses, plus other sporting facilities – but all pale into comparison with football, that Portuguese obsession, which you can watch from the many stadiums dotting the country. So…the question really is: why wouldn’t everyone think of buying property in Portugal? Do you feel the same? Please tell me of your experiences and why you are looking at moving to Portugal – or why you love the country so much.
Bye for now and happy summer days, Carol.
http://www.portugalbuyingguide.com
Friday 13 August 2010
Mortgages – you need a degree to decide…!
Hello again. This has been a great week for me – one of my closest friends has come to stay for a couple of weeks and I am showing her London! Needless to say, we have stacks planned but will probably exhaust ourselves and slump in front of the telly after a few hectic days!
One of the things we are going to do is to see a favourite of mine - Martin Shaw - in a play at the Richmond Theatre. Plus a possible Bat Walk at the Wetland Centre…and there’s a jazz festival at Canary Wharf…whew, I feel tired already!
No matter how canny you are, today it just isn’t easy to predict what’s going to happen in the foreseeable future is it? Take mortgages: after the recent emergency budget, many industry experts are now predicting that the base rate will remain stable at around 0.5% until perhaps the end of 2012 – I even saw 2013 mentioned.
Even Chancellor George Osborne made reference in his budget speech to Bank of England governor Mervyn King’s recent comments that if growth does prove to be slower, interest rates will remain lower. So…for those of you thinking of buying a new home or re-mortgaging, where does this leave you over the next couple of years?
You can take a competitive fixed rate now – and with this you get the ability to budget. For those more risk-averse borrowers who simply want a planned budget, a fixed rate is a highly attractive option. It does mean however that you give up a low standard variable rate (SVR) and ignore the tracker rate linked to the Bank of England base rate.
In contrast, if you choose to embrace the prediction of a continued low base rate, in the short to medium term certainly there are some competitive choices. You can of course remain on a low SVR until you see signs of an upward trend, but should you want to exchange you may find that your lender excludes existing borrowers from their best products…
Perhaps you need to take advice here from a mortgage expert? If you don’t know who to ask about this I know that the friendly team at the Overseas Guides Company Resource Centre can recommend someone – give them a call on 0207 898 0549.
But sometimes even for the most experienced broker, there isn’t really a right or wrong answer. However I always feel that two heads are better than one, especially when that second ‘head’ has been concentrating on the mortgage market for years…!
I’m off to have fun – in the sun I hope – with my friend now. Fortunately, because she’s from South Africa, a few cooler days are quite welcome - I hope you are enjoying summer too.
Best wishes,
Carol.
http://www.portugalbuyingguide.com/
One of the things we are going to do is to see a favourite of mine - Martin Shaw - in a play at the Richmond Theatre. Plus a possible Bat Walk at the Wetland Centre…and there’s a jazz festival at Canary Wharf…whew, I feel tired already!
No matter how canny you are, today it just isn’t easy to predict what’s going to happen in the foreseeable future is it? Take mortgages: after the recent emergency budget, many industry experts are now predicting that the base rate will remain stable at around 0.5% until perhaps the end of 2012 – I even saw 2013 mentioned.
Even Chancellor George Osborne made reference in his budget speech to Bank of England governor Mervyn King’s recent comments that if growth does prove to be slower, interest rates will remain lower. So…for those of you thinking of buying a new home or re-mortgaging, where does this leave you over the next couple of years?
You can take a competitive fixed rate now – and with this you get the ability to budget. For those more risk-averse borrowers who simply want a planned budget, a fixed rate is a highly attractive option. It does mean however that you give up a low standard variable rate (SVR) and ignore the tracker rate linked to the Bank of England base rate.
In contrast, if you choose to embrace the prediction of a continued low base rate, in the short to medium term certainly there are some competitive choices. You can of course remain on a low SVR until you see signs of an upward trend, but should you want to exchange you may find that your lender excludes existing borrowers from their best products…
Perhaps you need to take advice here from a mortgage expert? If you don’t know who to ask about this I know that the friendly team at the Overseas Guides Company Resource Centre can recommend someone – give them a call on 0207 898 0549.
But sometimes even for the most experienced broker, there isn’t really a right or wrong answer. However I always feel that two heads are better than one, especially when that second ‘head’ has been concentrating on the mortgage market for years…!
I’m off to have fun – in the sun I hope – with my friend now. Fortunately, because she’s from South Africa, a few cooler days are quite welcome - I hope you are enjoying summer too.
Best wishes,
Carol.
http://www.portugalbuyingguide.com/
Friday 6 August 2010
Know Your Credit Card...
Hello there.
I am so excited to have discovered the Canary Wharf free concerts here in London! Every Thursday evening throughout the summer they have something new: last week I saw a real blast from the past: Georgie Fame – yeah yeah! It was great – a clear, lovely evening, music and a few munchies – what could be better?
Enough about me…You are thinking of moving or buying property abroad, and I have no doubt that for those inspection trips etc you have a credit card. If you are like me, a credit card is a credit card...For years I had only one of these pesky little devils, but these days it pays to know the perfect card to pick. They have very different pros and cons and it could cost you a lot of money if you are using the wrong one.
You need to make sure that you are not making new purchases on cards charging expensive rates, paying huge APRs on old debts and missing out on benefits such as cashback.
Right – firstly, what’s APR?
APR stands for Annual Percentage Rate and, under the Consumer Act 1974, it is required to be published for all regulated loans so consumers can quickly and easily compare products.
This means that when advertising any form of credit, the lender should ensure that the APR is more prominent than any other rate.
APR was introduced because the interest rate a lender charges for credit will not accurately reflect the cost to the borrower. For instance, on top of the interest rate, there are other costs to consider such as administration costs, acceptance fees, broker fees and so on. It would be next to impossible for consumers to compare all these costs for every loan. Because an APR takes in all of these extra costs, it will always be higher than the lender’s actual interest rate, but in effect it calculates all the costs for you.
It is important to bear in mind however that unless the loan is fixed, there is no guarantee that the APR won’t change during the duration of the loan. For example, if the Bank of England raises its interest rates, the APR on your credit card will also go up. On the other hand, you will benefit if the Bank cuts its rates.
Remember that any form of credit on today’s market will come with its own set of restrictions, fees, charges and penalties. As a general rule, if you keep up with repayments and settle the loan in the agreed term these will not be a factor. However, if you miss repayments, want to settle early, or deviate in any way from the original agreement it could end up being very expensive.
The 0% balance transfer card is one of the most useful credit cards out there - this card comes with a 0% balance transfer offer that lasts for a set period – sometimes up to 16 months. This means that for 16 months you will pay no interest but chip away at your debt. However, once your 0% period passes, interest is charged on the whole balance…The thing to remember here is that using one card for both paying off old debts and making new purchases is not usually a good idea.
Some credit cards come with 0% on new purchases. Here you need to pay the entire balance off before a certain date. If you don't, your credit card provider will apply a standard APR to your outstanding debt and this could mean sometimes up to 17%!
Then there is the long term, low rate credit card. These are a great option for someone with debts they are unable to clear within a short space of time. The advantage of these cards is that they offer borrowers an affordable interest rate for much longer than the average 0% card - in some cases, for as long as it takes an individual to clear their debt in full.
For instance, one of the banks are offering a long term, low rate credit card that comes with an interest rate of 6.8% APR, and if you transfer a balance to it within 60 days of opening your account your debt will remain at this low rate until every penny of it has been paid off.
Finally there is the Cashback Credit Card. These cards allow you to earn back a proportion of what you spend, potentially netting you a lot of money each year, depending on how much you spend. The most important thing to bear in mind when using a Cashback Card is that you must repay whatever you spend on it in full every month or you could end up not only not making money but paying very high interest rates. With these cards be aware that there is often a figure which you must spend annually to ‘qualify’ for your cashback option.
I hope this has been some help, if only to make you aware that there are choices out here and you need to ask about them before just accepting any credit card offered to you by your bank or financial institution.
Bye for now – I’ll chat next week!
Summer smiles,
Carol
http://www.portugalbuyingguide.com/
I am so excited to have discovered the Canary Wharf free concerts here in London! Every Thursday evening throughout the summer they have something new: last week I saw a real blast from the past: Georgie Fame – yeah yeah! It was great – a clear, lovely evening, music and a few munchies – what could be better?
Enough about me…You are thinking of moving or buying property abroad, and I have no doubt that for those inspection trips etc you have a credit card. If you are like me, a credit card is a credit card...For years I had only one of these pesky little devils, but these days it pays to know the perfect card to pick. They have very different pros and cons and it could cost you a lot of money if you are using the wrong one.
You need to make sure that you are not making new purchases on cards charging expensive rates, paying huge APRs on old debts and missing out on benefits such as cashback.
Right – firstly, what’s APR?
APR stands for Annual Percentage Rate and, under the Consumer Act 1974, it is required to be published for all regulated loans so consumers can quickly and easily compare products.
This means that when advertising any form of credit, the lender should ensure that the APR is more prominent than any other rate.
APR was introduced because the interest rate a lender charges for credit will not accurately reflect the cost to the borrower. For instance, on top of the interest rate, there are other costs to consider such as administration costs, acceptance fees, broker fees and so on. It would be next to impossible for consumers to compare all these costs for every loan. Because an APR takes in all of these extra costs, it will always be higher than the lender’s actual interest rate, but in effect it calculates all the costs for you.
It is important to bear in mind however that unless the loan is fixed, there is no guarantee that the APR won’t change during the duration of the loan. For example, if the Bank of England raises its interest rates, the APR on your credit card will also go up. On the other hand, you will benefit if the Bank cuts its rates.
Remember that any form of credit on today’s market will come with its own set of restrictions, fees, charges and penalties. As a general rule, if you keep up with repayments and settle the loan in the agreed term these will not be a factor. However, if you miss repayments, want to settle early, or deviate in any way from the original agreement it could end up being very expensive.
The 0% balance transfer card is one of the most useful credit cards out there - this card comes with a 0% balance transfer offer that lasts for a set period – sometimes up to 16 months. This means that for 16 months you will pay no interest but chip away at your debt. However, once your 0% period passes, interest is charged on the whole balance…The thing to remember here is that using one card for both paying off old debts and making new purchases is not usually a good idea.
Some credit cards come with 0% on new purchases. Here you need to pay the entire balance off before a certain date. If you don't, your credit card provider will apply a standard APR to your outstanding debt and this could mean sometimes up to 17%!
Then there is the long term, low rate credit card. These are a great option for someone with debts they are unable to clear within a short space of time. The advantage of these cards is that they offer borrowers an affordable interest rate for much longer than the average 0% card - in some cases, for as long as it takes an individual to clear their debt in full.
For instance, one of the banks are offering a long term, low rate credit card that comes with an interest rate of 6.8% APR, and if you transfer a balance to it within 60 days of opening your account your debt will remain at this low rate until every penny of it has been paid off.
Finally there is the Cashback Credit Card. These cards allow you to earn back a proportion of what you spend, potentially netting you a lot of money each year, depending on how much you spend. The most important thing to bear in mind when using a Cashback Card is that you must repay whatever you spend on it in full every month or you could end up not only not making money but paying very high interest rates. With these cards be aware that there is often a figure which you must spend annually to ‘qualify’ for your cashback option.
I hope this has been some help, if only to make you aware that there are choices out here and you need to ask about them before just accepting any credit card offered to you by your bank or financial institution.
Bye for now – I’ll chat next week!
Summer smiles,
Carol
http://www.portugalbuyingguide.com/
Friday 30 July 2010
What to do in Portugal?
Hello again.
Have you seen the Grace Kelly exhibition at the V & A recently? I haven’t, but I did go along to a talk by her friend and biographer Donald Spoto. He gave a fascinating insight into the real person behind the iconic image – it was so interesting. There’s always something to do in London isn’t there?
Are you going to Portugal to look at property this summer, or indeed just to holiday? I know when I used to take my kids on holiday I always used to like to plan it so that there was something to occupy their days – nothing like an exhausted child to ensure a good night’s sleep!
The possibilities are endless in Portugal really, both for families with kids and those without. There are endless World Heritage sites, natural wonders and cultural surprises and all are far quieter – and less expensive - than in neighbouring Spain. Plus of course you have the benefit of sandy beaches, traditional fishing villages and an expansive stretch of rugged coastline. Diving and swimming are of course popular and you could learn how to surf in the southern region or along the western coastline. Or what about deep sea fishing or a Douro river cruise exploring the river and nearby ancient ruins?
Many championship golf courses dot the country plus horseback riding is a fun activity. You could perhaps combine that with a visit to the quieter rural areas, staying at renovated farm houses and traditional homes that provide accommodation for tourists and allow a glimpse into a more tranquil way of life.
And while you holiday you can be taking in what your area of choice looks like in the busy summer season. That lovely village that you first saw in spring or autumn may be simply too busy for you in summer. Or you may find that you enjoy a revived night life and having a few folk around…but for my money it really is best to see your chosen area at all times of the year before committing yourself.
I know for instance that the places I would chose to buy if I could are either Marvão or Castelo de Vide but I visited last in early May. What are they like in the middle of summer I wonder? Food for thought. Have lots of fun and do let me know your findings won’t you.
With all best wishes for happy summer days,
Carol.
Have you seen the Grace Kelly exhibition at the V & A recently? I haven’t, but I did go along to a talk by her friend and biographer Donald Spoto. He gave a fascinating insight into the real person behind the iconic image – it was so interesting. There’s always something to do in London isn’t there?
Are you going to Portugal to look at property this summer, or indeed just to holiday? I know when I used to take my kids on holiday I always used to like to plan it so that there was something to occupy their days – nothing like an exhausted child to ensure a good night’s sleep!
The possibilities are endless in Portugal really, both for families with kids and those without. There are endless World Heritage sites, natural wonders and cultural surprises and all are far quieter – and less expensive - than in neighbouring Spain. Plus of course you have the benefit of sandy beaches, traditional fishing villages and an expansive stretch of rugged coastline. Diving and swimming are of course popular and you could learn how to surf in the southern region or along the western coastline. Or what about deep sea fishing or a Douro river cruise exploring the river and nearby ancient ruins?
Many championship golf courses dot the country plus horseback riding is a fun activity. You could perhaps combine that with a visit to the quieter rural areas, staying at renovated farm houses and traditional homes that provide accommodation for tourists and allow a glimpse into a more tranquil way of life.
And while you holiday you can be taking in what your area of choice looks like in the busy summer season. That lovely village that you first saw in spring or autumn may be simply too busy for you in summer. Or you may find that you enjoy a revived night life and having a few folk around…but for my money it really is best to see your chosen area at all times of the year before committing yourself.
I know for instance that the places I would chose to buy if I could are either Marvão or Castelo de Vide but I visited last in early May. What are they like in the middle of summer I wonder? Food for thought. Have lots of fun and do let me know your findings won’t you.
With all best wishes for happy summer days,
Carol.
Friday 23 July 2010
Make Sure You Use An Independent Lawyer
Hello again.
My daughter was in town last week so that was really exciting…and the best thing of all was that we went to a Will Young concert at Kenwood House!
Well, I thought it was the best thing – my cool kids were a trifle disconcerted at first but to their enormous embarrassment they LOVED Will! Evidently he’s not considered particularly cool but the great music and his relaxed charm won them over, as I knew it would. It was a warm, clear evening and my daughter had put together a picnic of all my favourite things – smoked salmon, prawns, a few glasses of wine…it was great sitting on the lawn just soaking up the lovely summer evening and the listening to Will’s dulcet tones, surrounded by like-minded people.
On to more serious matters. In my years with the OGC, I have spoken to lots of people buying abroad, most of whom were thrilled with the outcome, but sadly there have been a few that have had tragic tales to tell.
One such couple had bought the holiday home of their dreams, with lovely views of the sea, and were excitedly planning regular visits accompanied by their children and grandchildren. You can imagine their horror when they visited their property as it neared completion only to discover that a block of flats had been erected which totally obscured their sea view. I must say I was utterly heartbroken on their behalf. Here is another tale, as emailed to me:
“…none of our documents were translated by our English speaking lawyer, introduced by the agent! (I know - classic mistake and one we are paying for in stress and also money!). We thought we had bought a house complete with the land, but our documents tell a different story which is that we bought the land for one price. We then bought the shell of the building and employed the builder to complete the house (he still hasn't). This contract also states that if the builder does not get his money then he can sell the house and take everything in it (about £30,000’s worth of furniture and fittings).”
Why am I telling you all this?
If there is one ‘classic mistake’ that I have identified more than once, it is that people do not use the services of an independent lawyer, thoroughly conversant in English. This really is absolutely vital: retain your own lawyer and do not, under any circumstances, use one recommended by the seller or developer unless you can get personal recommendations from other people who have used him/her successfully. If you do, you may well find that such a lawyer will have conflicting loyalties. You don’t have to be a rocket scientist to know who they will ultimately look after - you, with your one-of purchase, or the estate agent/developer, with whom they do business on a regular basis. It’s a no-brainer.
Suffice it to say that if both these buyers had used good, thorough lawyers both the above set of circumstances could and indeed should have been avoided.
You also need to make very sure that you understand every word on the contract and that you’re paying as building stages are reached if you are buying off plan. That way you can’t be forced to pay by a certain time. I have heard of people paying almost the full price on a property before the builder has even started the build – it’s a very old con and one that still catches people out.
Please don’t neglect to do the things that you as a buyer would routinely do in the UK…as mentioned, retain your own lawyer, and also make sure you have all documents translated so that you can read and fully understand them and that you get personal references on all builders and developers that you use. A survey would also be on my ‘to-do- list.
I would love to hear how your plans to buy property are coming along. Also, there is masses on really detailed information in the OGC Buying Guides – I have put them all in case you may know someone interested in buying elsewhere! Just go to:
http://www.GreeceBuyingGuide.com/guide.htm
http://www.ItalyBuyingGuide.com/guide.htm
http://www.FranceBuyingGuide.com/guide.htm
http://www.PortugalBuyingGuide.com/guide.htm
http://www.EmigrationGuide.com/guide.htm
Best regards and a sunny smile from me – I am off boating down the canals in my friend’s longboat again!
Carol.
http://www.portugalbuyingguide.com
My daughter was in town last week so that was really exciting…and the best thing of all was that we went to a Will Young concert at Kenwood House!
Well, I thought it was the best thing – my cool kids were a trifle disconcerted at first but to their enormous embarrassment they LOVED Will! Evidently he’s not considered particularly cool but the great music and his relaxed charm won them over, as I knew it would. It was a warm, clear evening and my daughter had put together a picnic of all my favourite things – smoked salmon, prawns, a few glasses of wine…it was great sitting on the lawn just soaking up the lovely summer evening and the listening to Will’s dulcet tones, surrounded by like-minded people.
On to more serious matters. In my years with the OGC, I have spoken to lots of people buying abroad, most of whom were thrilled with the outcome, but sadly there have been a few that have had tragic tales to tell.
One such couple had bought the holiday home of their dreams, with lovely views of the sea, and were excitedly planning regular visits accompanied by their children and grandchildren. You can imagine their horror when they visited their property as it neared completion only to discover that a block of flats had been erected which totally obscured their sea view. I must say I was utterly heartbroken on their behalf. Here is another tale, as emailed to me:
“…none of our documents were translated by our English speaking lawyer, introduced by the agent! (I know - classic mistake and one we are paying for in stress and also money!). We thought we had bought a house complete with the land, but our documents tell a different story which is that we bought the land for one price. We then bought the shell of the building and employed the builder to complete the house (he still hasn't). This contract also states that if the builder does not get his money then he can sell the house and take everything in it (about £30,000’s worth of furniture and fittings).”
Why am I telling you all this?
If there is one ‘classic mistake’ that I have identified more than once, it is that people do not use the services of an independent lawyer, thoroughly conversant in English. This really is absolutely vital: retain your own lawyer and do not, under any circumstances, use one recommended by the seller or developer unless you can get personal recommendations from other people who have used him/her successfully. If you do, you may well find that such a lawyer will have conflicting loyalties. You don’t have to be a rocket scientist to know who they will ultimately look after - you, with your one-of purchase, or the estate agent/developer, with whom they do business on a regular basis. It’s a no-brainer.
Suffice it to say that if both these buyers had used good, thorough lawyers both the above set of circumstances could and indeed should have been avoided.
You also need to make very sure that you understand every word on the contract and that you’re paying as building stages are reached if you are buying off plan. That way you can’t be forced to pay by a certain time. I have heard of people paying almost the full price on a property before the builder has even started the build – it’s a very old con and one that still catches people out.
Please don’t neglect to do the things that you as a buyer would routinely do in the UK…as mentioned, retain your own lawyer, and also make sure you have all documents translated so that you can read and fully understand them and that you get personal references on all builders and developers that you use. A survey would also be on my ‘to-do- list.
I would love to hear how your plans to buy property are coming along. Also, there is masses on really detailed information in the OGC Buying Guides – I have put them all in case you may know someone interested in buying elsewhere! Just go to:
http://www.GreeceBuyingGuide.com/guide.htm
http://www.ItalyBuyingGuide.com/guide.htm
http://www.FranceBuyingGuide.com/guide.htm
http://www.PortugalBuyingGuide.com/guide.htm
http://www.EmigrationGuide.com/guide.htm
Best regards and a sunny smile from me – I am off boating down the canals in my friend’s longboat again!
Carol.
http://www.portugalbuyingguide.com
Friday 16 July 2010
Why Travel to Portugal
Hello – how are you? This is a happy week for me as my daughter is in town. She lives in Dubai and is here to complete a course module for her studies. She arrived in London hoping to escape the heat in Dubai, only to be met with uncharacteristically hot weather here! I did warn her in advance – but do kids ever listen to their mothers? Thank heavens it’s cooling down a little now, for both our sakes!
Are you off to Portugal this summer? For those sun worshippers amongst us, it may interest you to know that the number of tourists to Portugal have dropped, mainly of course due to the almost universal slump in the economy. The country has always offered some of the best value in the eurozone, especially outside the Algarve, and now you may easily get even better prices.
So…what to see and how to save on costs?
The rule of thumb is that farther north you go, the further the cost of living drops as this area sees far fewer tourists.
If you Google holiday deals, you will find that many holiday companies are offering cheaper deals that ever - a sign of the times. But, if like me, you like to travel independently, you may find that the Solares de Portugal fit the bill. These are not hotels or guesthouses but privately-owned stately manor houses, elegant country homes or lovely old farmhouses. The concept was introduced to help preserve Portugal’s heritage as well as providing accommodation in houses of character “Turismo de Habitação”. Some of them were once a bit tumbledown but they have now been restored to their former glory and are open to guests, who are treated as part of the family.
The Azores is affordable and is also the best place in Europe to see a large range of whales and dolphins up close. There are low cost airline flights plus a growing choice of self-catering options, as well as keenly priced hotels. You may find B & Bs an even better option that the bigger hotels as they can be more flexible price-wise.
Then Portugal’s state-run pousadas – wonderful palaces or convents that have been converted into very comfortable hotels – have introduced a new five-night “Pousada Passport”. This offers savings of up to 40 per cent on walk-in room rates on weekdays. Plus the pousadas have also teamed up with Avis to offer a five-night package at a very reasonable price…these are just a few of the options you can Google online.
Most visitors to the Algarve go west from Faro airport to the busy coastal resorts of Albufeira, Portimão and Lagos. These are the most popular destinations, and therefore the most pricey. Try going east to the nearby pretty riverside town of Tavira for instance and your holiday can cost half as much. Food is much more affordable and so is the accommodation. Finally, some of the most rewarding touring can be found in the coastal province north of Porto called the Minho. Those in the know consider this the most beautiful part of the country, and it is also the most traditional. You can get there via Ryanair and book cheaper B & Bs – that’s what I did when I was in Portugal.
And if you your trip is part of a property viewing trip, this could be a very good time. Prices have dropped throughout the country some are not expecting the market situation to improve before the second half of 2012. You do however really need to focus on accessibility – always important but never more so than now. I write a monthly Portugal Buying Guide newsletter and I am dedicating my end July/ early August one to transport within Greece – you may like to look at it. Just go to: http://www.portugalbuyingguide.com/news.htm around about 29th July.
All the best until next week,
Carol.
Are you off to Portugal this summer? For those sun worshippers amongst us, it may interest you to know that the number of tourists to Portugal have dropped, mainly of course due to the almost universal slump in the economy. The country has always offered some of the best value in the eurozone, especially outside the Algarve, and now you may easily get even better prices.
So…what to see and how to save on costs?
The rule of thumb is that farther north you go, the further the cost of living drops as this area sees far fewer tourists.
If you Google holiday deals, you will find that many holiday companies are offering cheaper deals that ever - a sign of the times. But, if like me, you like to travel independently, you may find that the Solares de Portugal fit the bill. These are not hotels or guesthouses but privately-owned stately manor houses, elegant country homes or lovely old farmhouses. The concept was introduced to help preserve Portugal’s heritage as well as providing accommodation in houses of character “Turismo de Habitação”. Some of them were once a bit tumbledown but they have now been restored to their former glory and are open to guests, who are treated as part of the family.
The Azores is affordable and is also the best place in Europe to see a large range of whales and dolphins up close. There are low cost airline flights plus a growing choice of self-catering options, as well as keenly priced hotels. You may find B & Bs an even better option that the bigger hotels as they can be more flexible price-wise.
Then Portugal’s state-run pousadas – wonderful palaces or convents that have been converted into very comfortable hotels – have introduced a new five-night “Pousada Passport”. This offers savings of up to 40 per cent on walk-in room rates on weekdays. Plus the pousadas have also teamed up with Avis to offer a five-night package at a very reasonable price…these are just a few of the options you can Google online.
Most visitors to the Algarve go west from Faro airport to the busy coastal resorts of Albufeira, Portimão and Lagos. These are the most popular destinations, and therefore the most pricey. Try going east to the nearby pretty riverside town of Tavira for instance and your holiday can cost half as much. Food is much more affordable and so is the accommodation. Finally, some of the most rewarding touring can be found in the coastal province north of Porto called the Minho. Those in the know consider this the most beautiful part of the country, and it is also the most traditional. You can get there via Ryanair and book cheaper B & Bs – that’s what I did when I was in Portugal.
And if you your trip is part of a property viewing trip, this could be a very good time. Prices have dropped throughout the country some are not expecting the market situation to improve before the second half of 2012. You do however really need to focus on accessibility – always important but never more so than now. I write a monthly Portugal Buying Guide newsletter and I am dedicating my end July/ early August one to transport within Greece – you may like to look at it. Just go to: http://www.portugalbuyingguide.com/news.htm around about 29th July.
All the best until next week,
Carol.
Friday 9 July 2010
Money Saving Tips Abroad
Hi there – how are you?
I never, in my wildest dreams, imagined that I would be hoping for a cloudy, cool day here in London. While my friends were here and Wimbledon was on, it would have been a tad churlish to wish for overcast skies but this week at last I welcome the cooler weather!
Are you going away this summer? Whether you are looking to buy a property abroad or just joining the steadily declining number of holiday makers overseas, there is no doubt that financial restraints have meant that tourism has dropped. Most of us or having to tighten our belts and count the pennies, to use two clichés in one sentence! Not only is getting out there more costly but accommodation is stretching budgets too, so here are a few of my own tips for saving money next time you are abroad:
Food shopping
Bye for another week – take care!
Carol.
http://www.portugalbuyingguide.com
I never, in my wildest dreams, imagined that I would be hoping for a cloudy, cool day here in London. While my friends were here and Wimbledon was on, it would have been a tad churlish to wish for overcast skies but this week at last I welcome the cooler weather!
Are you going away this summer? Whether you are looking to buy a property abroad or just joining the steadily declining number of holiday makers overseas, there is no doubt that financial restraints have meant that tourism has dropped. Most of us or having to tighten our belts and count the pennies, to use two clichés in one sentence! Not only is getting out there more costly but accommodation is stretching budgets too, so here are a few of my own tips for saving money next time you are abroad:
Food shopping
- It’s true that there are usually some lovely specialist stores nearby but prices can be on the high side if there is little competition in rural areas. It may be wise to consider shopping online if you can. This will mean that you can compare pricing and buy cheaper plus you will be less inclined to impulse buy!
- You could also find out if they have something like special offers or ‘double point’s days’ at your local supermarket and make an effort only to shop on those days. Also have a look at the items in the section for ‘nearing sell by date’. I have had lots of success here – things are sometimes quite dramatically reduced and are absolutely fine if you are going to eat them straight away or freeze them
- Last but by no means least, make a point of using your local fresh produce market for the bulk of your general day to day fruit and veggies if there is one in the vicinity. You may have to queue at the popular stalls but produce is usually cheaper and often much better than at the supermarkets
- Once you have your own property, think about growing your own vegetables. Some friends of mine have a small plot and were absolutely delighted this year to be able to pick the most wonderful green beans, potatoes and tomatoes from their own garden. It is tremendous fun to watch something you have planted grow from seed and not difficult to achieve
- Invest in a water butt to catch rainwater for your garden
- Every village or town has one or more. Look out for adverts in your supermarket and patronise these – you will be surprised what you can find.
- Good insulation helps cut heating bills down in winter and air con. Bills in summer. Sealing outside doors also helps here
- A wood burning stove and/or an open fire may well be all you need for many of the winter months instead of more costly central heating
- Remember to turn off your TV, PC and mobile phone charger when not in use – from the wall and not just on the remote! A little goes a long way in saving you money!
- Both petrol and diesel are usually cheaper at supermarkets. Try to avoid motorway service stations if you possibly can, they can be quite a bit more expensive
- This is always worth looking into properly. You need to look at the cover you have as well as any excess and compare to other companies
- This is vital. Communication with your neighbours, local shopkeepers and new friends is vital, not only for your peace of mind and happiness but for helping you to save money on your general living expenses. When I first bought my house abroad a kind neighbour told me where to get the very freshest bread in the morning which also happened to be a little cheaper than the bakery I had been going to. OK, a small point but a good example of how integration can help you in so many ways. So don’t be shy, socialise as much as you can and both you and your pocket are bound to benefit!
Bye for another week – take care!
Carol.
http://www.portugalbuyingguide.com
Friday 2 July 2010
Make YOUR financial plan come together….
Hi there.
Well, miracles DO happen! Can you believe the wonderful weather Wimbledon experienced in the run-up to the finals? As I may have mentioned, friends of mine came from South Africa and the USA to watch, and their chief concern was that they didn’t get sunburnt – not a problem usually encountered at Wimbledon! And what a gripping series it is, with the both the men’s and the woman’s favourites out – unbelievable.
I heard recently that they were doing a remake of that classic TV series, The A Team…I know it was ridiculous, but somehow it reminds me of my kid’s childhood, of a less sophisticated era when we all clustered around the TV together to watch instead of the family being spread throughout the house, each at their own computer or laptop.
Remember the catch-phrase – ‘I love it when a plan comes together?’ Well, wouldn’t it be wonderful to jet away to your place in the sun for your summer break, all your plans having come together? If only buying abroad was that easy….or is it? Well, thousands of us Brits do so every year according to the statistics – why not become one of them?
However, has the family agreed on the motive for buying? Is it a heart pounding, emotional fuelled, lifestyle purchase? Or is it a level-headed, pragmatic, money making decision? The majority of people probably want it all - the best of both worlds. However, that peaceful mountain retreat might not rent like the hedonistic beach front apartment…or should it be the city centre apartment which could rent well…but then…do you really want to stay in the business district yourself?
Whatever motivates your purchase, there are certain concerns that you should bear in mind, one of the most important being what financial liability are you taking on and if you can afford it. The papers have been full of property market crashes around the world – indeed mortgages were one of the main factors in many of the bank’s problems.
With 80% of overseas purchases being mortgaged, you need to make sure you choose the correct bank to fund your purchase. This can save you thousands in the long run. Do you need a bank that can facilitate re-finance? What about over-payments, what about off-setting income against mortgage costs? Is there a robust legal process and who should represent you? Cut costs here and you could lose the lot. Also, have you considered what type of property rents well in your chosen area: apartments or villas? Is there a glut of rentable property in the area you are looking at? These and many other factors need serious consideration upfront.
The bottom line is that all of the above involves money and lots of it, so talking to professionals is key. This is a big commitment with big responsibilities. How does it fit into your overall financial plan? Speak to financial advisors who have overseas property experience (not all do), and are familiar with property investment strategies. Understanding the full financial commitment you are taking on, you can then feel confident that you are buying within your budget and not be in for any shocks along the way.
Your plan will only come together only if you actually have one…and then stick to it! Even when buying the holiday home of your dreams the numbers must work… you must understand them, work them out in advance, and then confidently buy, knowing that you have catered for every contingency.
Take care in the week ahead and enjoy the summer sun!
Best,
Carol.
http://www.portugalbuyingguide.com
Well, miracles DO happen! Can you believe the wonderful weather Wimbledon experienced in the run-up to the finals? As I may have mentioned, friends of mine came from South Africa and the USA to watch, and their chief concern was that they didn’t get sunburnt – not a problem usually encountered at Wimbledon! And what a gripping series it is, with the both the men’s and the woman’s favourites out – unbelievable.
I heard recently that they were doing a remake of that classic TV series, The A Team…I know it was ridiculous, but somehow it reminds me of my kid’s childhood, of a less sophisticated era when we all clustered around the TV together to watch instead of the family being spread throughout the house, each at their own computer or laptop.
Remember the catch-phrase – ‘I love it when a plan comes together?’ Well, wouldn’t it be wonderful to jet away to your place in the sun for your summer break, all your plans having come together? If only buying abroad was that easy….or is it? Well, thousands of us Brits do so every year according to the statistics – why not become one of them?
However, has the family agreed on the motive for buying? Is it a heart pounding, emotional fuelled, lifestyle purchase? Or is it a level-headed, pragmatic, money making decision? The majority of people probably want it all - the best of both worlds. However, that peaceful mountain retreat might not rent like the hedonistic beach front apartment…or should it be the city centre apartment which could rent well…but then…do you really want to stay in the business district yourself?
Whatever motivates your purchase, there are certain concerns that you should bear in mind, one of the most important being what financial liability are you taking on and if you can afford it. The papers have been full of property market crashes around the world – indeed mortgages were one of the main factors in many of the bank’s problems.
With 80% of overseas purchases being mortgaged, you need to make sure you choose the correct bank to fund your purchase. This can save you thousands in the long run. Do you need a bank that can facilitate re-finance? What about over-payments, what about off-setting income against mortgage costs? Is there a robust legal process and who should represent you? Cut costs here and you could lose the lot. Also, have you considered what type of property rents well in your chosen area: apartments or villas? Is there a glut of rentable property in the area you are looking at? These and many other factors need serious consideration upfront.
The bottom line is that all of the above involves money and lots of it, so talking to professionals is key. This is a big commitment with big responsibilities. How does it fit into your overall financial plan? Speak to financial advisors who have overseas property experience (not all do), and are familiar with property investment strategies. Understanding the full financial commitment you are taking on, you can then feel confident that you are buying within your budget and not be in for any shocks along the way.
Your plan will only come together only if you actually have one…and then stick to it! Even when buying the holiday home of your dreams the numbers must work… you must understand them, work them out in advance, and then confidently buy, knowing that you have catered for every contingency.
Take care in the week ahead and enjoy the summer sun!
Best,
Carol.
http://www.portugalbuyingguide.com
Friday 25 June 2010
Renovations
Hey there!
Even I, renowned as I am for a serious allergy to sport, have been caught up in the current sports mania. Okay I don’t actually watch it – that would be going too far – but I have become interested in the fate of Laura Robson, Andy Murray and those vastly overpaid soccer boys. On that subject however, dare I express a wish that Becks was there? It would make watching so much more enjoyable - even I might be tempted to do so…!
Moving on…literally! Chatting to a property expert a few days ago, she was commenting on how enthusiastically the Brits embrace a renovation project. And, in this day and age of concrete monstrosities, sometimes older properties have a very real charm that is hard to resist. This is all reinforced by movies (and I use the word ‘movie’ advisedly - it’s such a Hollywood concept somehow) such as Under the Tuscan Sun that make the whole process one long, romantic adventure…and of course it can be. In Under the Tuscan Sun a series of serendipitous events bring our heroine to a lovely yet dilapidated villa in beautiful Tuscany. Fast forward through a variety of interesting characters - Polish workers, Italian neighbors and an aging British actress - to the inevitable new love in her life…
Sounds great but let’s face it, the whole process usually entails a lot of hard work, more expense than one had at first budgeted for and a number of fraught, stress-inducing experiences along the way.
I have put together a few tips that may just help if you are thinking of going this route:
- One of the reasons often given for buying a renovation project is that it is ‘so much cheaper’ than a home in good condition. Stop right there – is it? And that’s tip 1: always do your sums – before you actually sign on the dotted line. Put together a separate renovation budget and then always factor in additional funding to cover those unexpected costs that almost always raise their ugly heads.
Knowing how much you’re able to spend on the renovation really helps when it comes to choosing a property. If a home needs major structural work and that’s not within your budget, the property may not be right no matter how low the asking price. Always know the full extent of the necessary renovations. Once you know what’s needed, determine the work you can handle and what you’ll need to contract out – then cost it
- Watch out for a suspiciously low priced properties, especially if they have been on the market for a while. There’s usually a reason for that low price…and you need to know what it is
- It is vital that you seek expert local advice. Unless you are able to do all the work yourself, obtain quotes from area professionals
- Check that you are allowed to make the changes that you require. Your idyllic property may just happen to fall within a conservation area that comes with stringent planning restrictions, and even more severe sanctions imposed for breaching them! Or your home might be within an area of significant archaeological interest - which could mean saying goodbye to your plans to built a pool for those scorching summer days
- Factor in to your calculations that renovation permits can add time delays as well as unexpected costs
- Also make sure of the safety aspects of your old property. Is it located in and around an earthquake zone? This could seriously affect your insurance premiums, not to mention the structural considerations and requirements you will need to adhere to when making changes to the building
Let me know if you decide to tackle a renovation project won’t you – I would be fascinated to hear all about it.
All for now: on Wednesday a friend has asked me to join her on a ‘makeover’ two-for - a renovation project of my very own! One paid (by her), one free (for me)! Wish me luck…
Best wishes,
Carol.
http://www.portugalbuyingguide.com
Even I, renowned as I am for a serious allergy to sport, have been caught up in the current sports mania. Okay I don’t actually watch it – that would be going too far – but I have become interested in the fate of Laura Robson, Andy Murray and those vastly overpaid soccer boys. On that subject however, dare I express a wish that Becks was there? It would make watching so much more enjoyable - even I might be tempted to do so…!
Moving on…literally! Chatting to a property expert a few days ago, she was commenting on how enthusiastically the Brits embrace a renovation project. And, in this day and age of concrete monstrosities, sometimes older properties have a very real charm that is hard to resist. This is all reinforced by movies (and I use the word ‘movie’ advisedly - it’s such a Hollywood concept somehow) such as Under the Tuscan Sun that make the whole process one long, romantic adventure…and of course it can be. In Under the Tuscan Sun a series of serendipitous events bring our heroine to a lovely yet dilapidated villa in beautiful Tuscany. Fast forward through a variety of interesting characters - Polish workers, Italian neighbors and an aging British actress - to the inevitable new love in her life…
Sounds great but let’s face it, the whole process usually entails a lot of hard work, more expense than one had at first budgeted for and a number of fraught, stress-inducing experiences along the way.
I have put together a few tips that may just help if you are thinking of going this route:
- One of the reasons often given for buying a renovation project is that it is ‘so much cheaper’ than a home in good condition. Stop right there – is it? And that’s tip 1: always do your sums – before you actually sign on the dotted line. Put together a separate renovation budget and then always factor in additional funding to cover those unexpected costs that almost always raise their ugly heads.
Knowing how much you’re able to spend on the renovation really helps when it comes to choosing a property. If a home needs major structural work and that’s not within your budget, the property may not be right no matter how low the asking price. Always know the full extent of the necessary renovations. Once you know what’s needed, determine the work you can handle and what you’ll need to contract out – then cost it
- Watch out for a suspiciously low priced properties, especially if they have been on the market for a while. There’s usually a reason for that low price…and you need to know what it is
- It is vital that you seek expert local advice. Unless you are able to do all the work yourself, obtain quotes from area professionals
- Check that you are allowed to make the changes that you require. Your idyllic property may just happen to fall within a conservation area that comes with stringent planning restrictions, and even more severe sanctions imposed for breaching them! Or your home might be within an area of significant archaeological interest - which could mean saying goodbye to your plans to built a pool for those scorching summer days
- Factor in to your calculations that renovation permits can add time delays as well as unexpected costs
- Also make sure of the safety aspects of your old property. Is it located in and around an earthquake zone? This could seriously affect your insurance premiums, not to mention the structural considerations and requirements you will need to adhere to when making changes to the building
Let me know if you decide to tackle a renovation project won’t you – I would be fascinated to hear all about it.
All for now: on Wednesday a friend has asked me to join her on a ‘makeover’ two-for - a renovation project of my very own! One paid (by her), one free (for me)! Wish me luck…
Best wishes,
Carol.
http://www.portugalbuyingguide.com
Friday 18 June 2010
Moving abroad NOW can still make sense!
Hey – how are you?
Well, it’s the end of a busy time for me. Last week I went to a lecture on ancient maps at the British Library and also went to see the amazing Japanese Kabuki at Sadler’s Wells. It was stunning – very strange and unlike anything I had seen before, but fascinating. Three of the actors came from families that had been involved in Kabuki for generations…we listened to a translation in one ear and caught the sounds in the other – it was brilliant!
Not so our daily intake of news! Are you, like me, rather tired of the constant gloomy headlines in our newspapers and on TV? Sterling seems to vacillate constantly against other currencies and just seems to have added to our woes. If you are keen to have your very own place abroad but feel it to be something of a distant dream, please do not despair!
Your main expense, namely a property abroad, is generally speaking, a lot cheaper than in the UK. If you own a property here this might mean that you will free up quite a sum of money – always useful. And if you don’t have capital to free up, there is very little doubt that it will be less expensive to get your foot on the property ladder abroad. Also remember that the price of property worldwide has been affected by the credit crunch – nowadays it is possible to make cheeky offers and sometimes get real bargains.
The other thing you might think about is ‘testing the waters’. You may want to rent abroad and see whether it suits you and whether indeed it is a viable option to move? You could rent out your property in the UK (if indeed you have one) for a set period of time, rent abroad for the same period of time and that way give yourself time to assess what you really want to do.
That way you will have the opportunity to try out an area before making a commitment to buy. You'll gain an insight into your neighbourhood: is it friendly and crime free or noisy and disorderly? Whether you are going to be living there yourself or buying as an investment it is vital that transport is readily available. Also things grocery stores, schools and other facilities – if it’s a holiday investment, is it near holiday amenities?
The real bonus with this strategy is that if you don't like the area you've decided to settle in overseas, or worse - you don't like the country - you can leave without the burden of selling a property. Most overseas tenancy contracts will tie you into a six or 12 month period rather than the indefinite, and often costly, amount of time it takes to sell a property.
It will also allow you to judge those indefinable things. For instance, have you considered how much you will miss all that is familiar to you? I moved to the UK from South Africa a number of years ago now, and the reason I moved was to be nearer my family, especially my grandchildren. I had no sooner settled than my son-in-law was transferred to Dubai…
My story had a happy ending in that I love London, have made new friends and see my son on a regular basis but you might find that all is not as you perhaps thought it would be.
So…plan on! Only you can make it happen and I am here to tell you that you can change your life if you want to – it’s just a matter of setting your goals and steadily working towards them.
Let me know how your plans are going…I’d love to hear your news…
Have a great week and best regards,
Carol.
http://www.PortugalBuyingGuide.com
Well, it’s the end of a busy time for me. Last week I went to a lecture on ancient maps at the British Library and also went to see the amazing Japanese Kabuki at Sadler’s Wells. It was stunning – very strange and unlike anything I had seen before, but fascinating. Three of the actors came from families that had been involved in Kabuki for generations…we listened to a translation in one ear and caught the sounds in the other – it was brilliant!
Not so our daily intake of news! Are you, like me, rather tired of the constant gloomy headlines in our newspapers and on TV? Sterling seems to vacillate constantly against other currencies and just seems to have added to our woes. If you are keen to have your very own place abroad but feel it to be something of a distant dream, please do not despair!
Your main expense, namely a property abroad, is generally speaking, a lot cheaper than in the UK. If you own a property here this might mean that you will free up quite a sum of money – always useful. And if you don’t have capital to free up, there is very little doubt that it will be less expensive to get your foot on the property ladder abroad. Also remember that the price of property worldwide has been affected by the credit crunch – nowadays it is possible to make cheeky offers and sometimes get real bargains.
The other thing you might think about is ‘testing the waters’. You may want to rent abroad and see whether it suits you and whether indeed it is a viable option to move? You could rent out your property in the UK (if indeed you have one) for a set period of time, rent abroad for the same period of time and that way give yourself time to assess what you really want to do.
That way you will have the opportunity to try out an area before making a commitment to buy. You'll gain an insight into your neighbourhood: is it friendly and crime free or noisy and disorderly? Whether you are going to be living there yourself or buying as an investment it is vital that transport is readily available. Also things grocery stores, schools and other facilities – if it’s a holiday investment, is it near holiday amenities?
The real bonus with this strategy is that if you don't like the area you've decided to settle in overseas, or worse - you don't like the country - you can leave without the burden of selling a property. Most overseas tenancy contracts will tie you into a six or 12 month period rather than the indefinite, and often costly, amount of time it takes to sell a property.
It will also allow you to judge those indefinable things. For instance, have you considered how much you will miss all that is familiar to you? I moved to the UK from South Africa a number of years ago now, and the reason I moved was to be nearer my family, especially my grandchildren. I had no sooner settled than my son-in-law was transferred to Dubai…
My story had a happy ending in that I love London, have made new friends and see my son on a regular basis but you might find that all is not as you perhaps thought it would be.
So…plan on! Only you can make it happen and I am here to tell you that you can change your life if you want to – it’s just a matter of setting your goals and steadily working towards them.
Let me know how your plans are going…I’d love to hear your news…
Have a great week and best regards,
Carol.
http://www.PortugalBuyingGuide.com
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