Expats told the 'most important tip' before moving to Spain as more Britons look to relocate

Sarra Gray
Thu, 19 Mar 2026 10:19:10 +0000

Recent data found search interest for the term "buying in Spain" increased by 68.9 per cent in 2025, compared to 2024, so it is firmly on the radar of British expats.

If you are considering the move, there are some important things to know before you commit that can make the process easier.

Getting your finances in order is vital, founder of UK Expat Mortgage, Luther Yeates, told GB News.

He said: "As the founder of a specialist expat mortgage brokerage, the biggest advice I give Britons moving to Spain is to get the financial aspects right before focusing on lifestyle."

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This can play into everything from where you choose to live and the type of property you buy, to what you do for work and your bank accounts.

The expert highlighted three popular expat areas and explained why they are a good choice for Britons. Yeates added: "Choosing where to live often comes down to budget and long-term plans, but areas like the Costa del Sol and Alicante work well for many UK expats because property prices are more accessible.

"Spanish lenders are very familiar with British buyers, so you may be eligible for a Spanish mortgage - or you can easily release equity from your UK property via a British lender to fund a purchase.

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"Valencia is increasingly popular too, as it offers good value compared with Barcelona or Madrid, which are fantastic cities but far more expensive."

After deciding where to set up camp, it is worth thinking about your bank accounts. Yeates suggested keeping your British bank account when overseas.

The finance expert continued: "One of the most important finance tips is to keep your UK bank account open when you're abroad.

"Even if you’re moving long-term, this can be critical if you already own property in the UK, ever want to purchase a buy-to-let here, or think you'll return one day. It will keep your UK credit history intact, and most mortgage lenders require this - it can save you thousands on your mortgage."

Moving abroad has financial implications, and understanding these is important. The expert shared further advice on this.

He said: "Tax and currency planning are also worth thinking about. Once you’re a tax resident in Spain, your worldwide income can fall into the Spanish system, but UK rental income typically remains taxable in the UK.

"In terms of moving money around, your bank probably doesn't give you the best exchange rate for EUR to GBP, so make sure to shop around or use an FX service, particularly when transferring large sums."

For more relocation advice, an expat in Spain shares the biggest piece of advice to help Britons get a "real Spanish experience" when moving.