Legal advice - Motorhome Forums, Motorhome Discussion, Motorhome Chat

User Tag List

 8Likes
Reply
 
LinkBack Thread Tools
post #1 of 15 (permalink) Old 21-01-2016, 23:47 Thread Starter
Senior Member
 
Join Date: Jan 2007
Location: Dorset
Posts: 1,179
Thanks: 10
Thanked 2 Times in 2 Posts
Legal advice

Has any member any advice on equity raised from your house, I am wanting a cheap place in Spain to see out most of the winter, we have a lovely motorhome but the daily mileage to get down to spain is getting harder as we get older, we have good value in property which we
don't see need to leave to all to our family. Any advice appreciated.
ambegayo is offline  
Sponsored Links
Advertisement
 
post #2 of 15 (permalink) Old 21-01-2016, 23:56
Senior Member
 
cabby's Avatar
 
Join Date: May 2005
Location: Elegant Eastbourne
My Motorhome: Sold it.
Posts: 20,116
Thanks: 248
Thanked 401 Times in 381 Posts
Personal Aire
With all due respect, you do not say what age group you are, to see if it would be worth while. Raising equity on your house sounds good but the amount they offer and some of the charges some make will be ridiculous.

With the cost of fees and maintenance on the Spanish property, if you are not letting will make it cheaper maybe to rent instead. Just a thought, then at least you could always use a different location each year.

cabby
HarleyDave and HarleyDave like this.

Don't be silly all the time ask your question.
cabby is offline  
post #3 of 15 (permalink) Old 22-01-2016, 08:19
Senior Member
 
tugboat's Avatar
 
Join Date: Sep 2013
Location: South Devon
My Motorhome: Bessacarr E725
Posts: 3,457
Thanks: 55
Thanked 159 Times in 138 Posts
I wouldn't want someone else having a financial interest in my property. Would downsizing your UK home be an option, to free up capital for a place abroad?

I'm daft and proud of it.
tugboat is offline  
 
post #4 of 15 (permalink) Old 22-01-2016, 09:17
Senior Member
 
Join Date: Aug 2013
Location: Costa Blanca North, Spain.
My Motorhome: 2001 Benimar 6000sl on Ducato 2.8JTD
Posts: 1,254
Thanks: 4
Thanked 39 Times in 31 Posts
DO NOT BUY. I will repeat: DO NOT BUY.

Just rent an apartment down in Spain each time you want to come down here.

The costs of having a place down here all year, just for you to use for say 3 months, would be really silly. Additionally, your tastes change and you may well want to stay somewhere else next year/in future years.

Winter rentals are very cheap, and you are not tying yourself down to a specific location forever.

With apartment rental, you have no maintenance issues, no utility bill issues, no local property tax issues, no local language admin issues, and you haven't tied up maybe £50,000/80,000 euros in a foreign country.
cabby, cabby, patp and 9 others like this.
TheNomad is offline  
The Following User Says Thank You to TheNomad For This Useful Post:
ambegayo (22-01-2016)
post #5 of 15 (permalink) Old 22-01-2016, 12:35
Senior Member
 
jo662's Avatar
 
Join Date: Jul 2010
Location: Cambridgeshire
My Motorhome: Kontiki 669
Posts: 3,010
Thanks: 390
Thanked 123 Times in 121 Posts
An old workmate`s mother in law used a company to release some equity in her home.And after 5 years they
started charging her rent from there portion of the property.I would not do it,but if you do read all the
small print and get advice.
As has been well said downsizing is a much better
option!
jo662 is offline  
post #6 of 15 (permalink) Old 22-01-2016, 13:44
Senior Member
 
rayc's Avatar
 
Join Date: Jun 2008
Location: Corfe Mullen, Wimborne Dorset
My Motorhome: Pilote 740C Sensation
Posts: 7,481
Thanks: 67
Thanked 248 Times in 226 Posts
Personal Aire
Quote:
Originally Posted by tugboat View Post
I wouldn't want someone else having a financial interest in my property. Would downsizing your UK home be an option, to free up capital for a place abroad?
This to me seems the preferred option. I believe the OP lives in the same locality as me and there are options to do that whilst staying in the general area.
rayc is offline  
The Following User Says Thank You to rayc For This Useful Post:
ambegayo (22-01-2016)
post #7 of 15 (permalink) Old 22-01-2016, 15:05
Senior Member
 
erneboy's Avatar
 
Join Date: Feb 2007
Location: Spain + Germany
My Motorhome: Four Winds RV
Posts: 26,521
Thanks: 154
Thanked 462 Times in 434 Posts
Having looked at this I agree that renting is the cheaper, better and more flexible option.
erneboy is offline  
post #8 of 15 (permalink) Old 22-01-2016, 15:40
Senior Member
 
Join Date: Sep 2010
Posts: 2,127
Thanks: 77
Thanked 39 Times in 38 Posts
I was chatting to a chap on a French aire last year and he was about to decamp to Portugal permanently and reckoned on an apartment @ c. 200 Euros a month would suit him fine - sounds cheap enough to me. Perhaps that's an option rather than buying and being stuck in one location, at least he can give up and move elsewhere

MHO.

www.motorhomeowners.org

WWW . MOTORHOMEOWNERS .ORG

http://www.motorhomeowners.org/

100% FREE and NO ADVERTS

Never yet met a Yank I couldn't take an immediate dislike to, and the way this forum is going I’ll add those a bit northwards too.

Burstner Nexxo T660
Sprinta is offline  
post #9 of 15 (permalink) Old 22-01-2016, 20:04
Senior Member
 
klyne's Avatar
 
Join Date: May 2005
Location: Milton Keynes
Posts: 298
Thanks: 0
Thanked 1 Time in 1 Post
We have an ex work colleague who has lived in Spain, full time, for about the last 5/7 years. They rent and every time they have moved property they have got a cheaper rent. If you only need it for 3/4 months of the year renting has got to be the best option. This option also gives you a lot of freedom if for some reason you have to give one winter a miss.


David

Bailey Approach SE 740

www.davidklyne.co.uk
klyne is offline  
post #10 of 15 (permalink) Old 22-01-2016, 20:10 Thread Starter
Senior Member
 
Join Date: Jan 2007
Location: Dorset
Posts: 1,179
Thanks: 10
Thanked 2 Times in 2 Posts
Thanks for your replies, it was what I was expecting - we had discussed it last year and dismissed it, but you have all confirmed what I expected. Rip off for anyone who tangles with it. As rayc will have noticed we are off road at the moment due to an unfortunate argument with a post at Beaune CS in France on way home in October last year. Will be doing some accurate planning on mileage between stops to get down to Spain when van is repaired. Thanks again.
ambegayo is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Motorhome Forums, Motorhome Discussion, Motorhome Chat forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome