# buying house and transferring money



## Megsmum (Sep 9, 2012)

In light if the Cyprus situation - If you buy a house in Spain. Do you transfer money from UK bank to Spanish bank OR do you transfer to the solicitor

If you were in Cyprus now and were buying a house for 100,000 euros, presumably you would not have enough o=money in the bank Tuesday PM equally if selling a house you would not have what you expected. Also if this is all accounts then some businesses will go to the wall as loosing money can make the difference between surviving and not. Also is it a one off, or can they just implement this across Europe whenever they are a bit short of Mercedes and champagne

I also found this 



> The levy breaks a euro zone taboo by hitting depositors.
> 
> It prompted Spain, considered the next most likely state to seek a sovereign rescue though supported recently by a European Central Bank promise to buy government debt if necessary, to deny savers in other countries risked being similarly penalised.
> 
> ...


http://http://uk.reuters.com/article/2013/03/16/uk-eurozone-cyprus-idUKBRE92F07R20130316


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## mrypg9 (Apr 26, 2008)

cambio said:


> In light if the Cyprus situation - If you buy a house in Spain. Do you transfer money from UK bank to Spanish bank OR do you transfer to the solicitor
> 
> If you were in Cyprus now and were buying a house for 100,000 euros, presumably you would not have enough o=money in the bank Tuesday PM equally if selling a house you would not have what you expected. Also if this is all accounts then some businesses will go to the wall as loosing money can make the difference between surviving and not. Also is it a one off, or can they just implement this across Europe whenever they are a bit short of Mercedes and champagne
> 
> ...



Normally, I try not to get panicked unnecessarily into precipatate action by this sort of thing....but the bare-faced cheek of the Cyprus Government in instigating this outrageous theft has made me seriously consider keeping no more than the bare minimum of euros needed to sustain human life in Spain in my Spanish account, probably no more than 1k euros, to be topped up as and when needed.
I shall keep the rest in my offshore account in £sterling or in my offshore euro account where at this point in time at least no greedy fingers can get at it.

This latest move has one use, however: I am teaching my Spanish friend Meri English and now I can teach her all sorts of useful English phrases, such as:

More front than Harrods
More front than Brighton Beach
The cheek of the devil
Bare-faced effrontery 
et al....

Not content with the British Government robbing migrants and investors generally by a 30% cut in the value of the savings we were encouraged by the likes of Thatcher to accrue, those responsible for this mess have taken to outright theft.

This worm is getting ready to turn...:boxing:

PS Cambio...Please don't tar all Mercedes owners with the same brush, or champagne drinkers for that matter. I'm very partial to a drop of the latter and possessed a shiny new sporty version of the former until OH's disapproval of such aged extravagance persuaded me to flog it. We're not all plutocrats...some are just foolish deluded ageing women trying to recapture tyheir first flush of youth
Mind you, the way things are going it will be tapwater and a bike soon....


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## jojo (Sep 20, 2007)

> PS Cambio...Please don't tar all Mercedes owners with the same brush


ppppssssttt, I've gotta mercedes, so has the old man and we aint rich!

Jo xxx


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## titania (Jan 3, 2013)

My understanding is that deposits in UK bank branches in Cyprus would not be touched as they come under UK law. However, journalists often being inaccurate, this would need a thorough investigation to ensure this is true. If this is the case that UK branches would not suffer the haircut in Cyprus, it may make sense to transfer any monies to a UK branch abroad instead of the national flavor ones...

The other observation I made is that the meeting that decided the Cyprus haircut was held on a Friday evening prior to a bank holiday, so as to enable the Cyprus authorities to block internet transfers and prevent a bank run. As you too may have observed, any difficult financial decisions do tend to be made during weekends.

Therefore, with respect to Spain, Portugal, and other countries which are in great difficulty, it would make sense to be especially careful of such meetings being held Fridays or Saturdays.

Also transferring money to arrive mid-week would allow knowing what the real situation is firstly before transferring the money, secondly repatriate that money before a weekend if things look dicey.


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## Sirtravelot (Jul 20, 2011)

cambio said:


> In light if the Cyprus situation - If you buy a house in Spain. Do you transfer money from UK bank to Spanish bank OR do you transfer to the solicitor
> 
> If you were in Cyprus now and were buying a house for 100,000 euros, presumably you would not have enough o=money in the bank Tuesday PM equally if selling a house you would not have what you expected. Also if this is all accounts then some businesses will go to the wall as loosing money can make the difference between surviving and not. Also is it a one off, or can they just implement this across Europe whenever they are a bit short of Mercedes and champagne
> 
> ...


I still remember when the Spanish said that their economy was stable and would not suffer as bad as Portugal's in early 2009.

I remember when the Germans promised that Greece would never get a bailout. 

If I had money in Spain right now, I know what I'd do with it!


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## mrypg9 (Apr 26, 2008)

jojo said:


> ppppssssttt, I've gotta mercedes, so has the old man and we aint rich!
> 
> Jo xxx


And like me too, you once had a BMW M3....and a RED one!!!!

At least two fast women on this Forum...


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## jojo (Sep 20, 2007)

mrypg9 said:


> And like me too, you once had a BMW M3....and a RED one!!!!
> 
> At least two fast women on this Forum...


 ....... well our cars were lol!!!!!!!

Jo xxxx


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## Stravinsky (Aug 12, 2007)

jojo said:


> ppppssssttt, *I've gotta mercedes,* so has the old man and we aint rich!
> 
> Jo xxx


Smart Cars are Mercedes


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## Megsmum (Sep 9, 2012)

I also have owned a BMW..... and like champagne.. but i used MY MONEY.. I was referring to the Powers that be and the Bankers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


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## jojo (Sep 20, 2007)

cambio said:


> I also have owned a BMW..... and like champagne.. but i used MY MONEY.. I was referring to the Powers that be and the Bankers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



Nah, I dont like champagne, I drink diet coke lol!!! 

Jo xxx


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