Even if you speak the language of the country fluently you will still need professional legal help for sorting out the legal aspects of your property purchase. Many solicitors in the UK will now deal with the formalities of property purchase, especially in most parts of Europe, but you can also look for a local representative expert in dealing with foreign purchase. It is worthwhile shopping around in order to be sure you have a reliable representative.
It is becoming easier to get an overseas mortgage for properties and some high street banks will offer mortgages in European Countries such as Spain and France, though you would have to search around for specialist companies if you were buying a property in newer on the market and emerging countries such as Bulgaria, Turkey or Croatia. It is worthwhile looking at getting a mortgage in the country where your property is, and check the mortgage rates of euro mortgages though it is worth looking at the exchange rate trends.
It is also important to protect the overseas property by getting an appropriate level of insurance for house and contents, which can be in some cases from a UK company or from a local one –though have the small print checked if you don’t speak or read the language.
If you are going to live on your pension you must consider what will happen to your lifestyle abroad if the exchange rate worsens. Some people moving to the Eurozone over ten years ago have seen their income drop by a third due to the exchange rate.