Buying property in France or Spain has recently been complicated due to Brexit. For many Brits already living there, there are still many questions, a lot of them related to health and access to medicine. The possibility of a no-deal Brexit overcomplicates things too. Let’s see what a no-deal Brexit involves and what it means in terms of health for the many Brits who already live or want to move there.

What is a no-deal Brexit?

No deal means that the UK would leave the European Union (EU) without any agreement about the status of their future relationship. In a matter of fact, it would immediately be left out of the single market and customs union, and consequently lose its privileges of trading between EU members without complex checks and tariffs (on imports). But this will also have a massive impact on other facets of our lives steeped in European institutions and regulations. We will leave the European Court of Justice and Europol, its law enforcement body, and lose our membership of many other EU bodies including the European Medicines Agency (EMA) responsible for the evaluation and supervision of medicinal products. 

While Theresa May has strived to pass her Brexit deal through Parliament, a deal which would at least ensure that the UK would be guaranteed a 21-month transition period to organise the situation and have time to negotiate a trade deal, this is now not the case. On the contrary, with PM’s Boris Johnson’s declarations of leaving the EU with or without a deal, the possibility of a no-deal Brexit is back on the table.

No-deal Brexit

Leaving without a deal means that the 1.3 million Brits living in the EU are suddenly left in a very complicated situation. By crashing out of the EU, means leaving behind the institutions that have for all these years protected us and given us security, health insurance and various other agreements that benefited us and guaranteed our smooth stay abroad.

If you are going on holiday, the government has advised that you buy travel insurance before you leave. However, if you are living abroad, Spain has already agreed to guarantee continued healthcare access to tourists and British expats until the end of 2020, provided that the UK grants Spanish living in the UK the same rights.

In France, things are more complicated, especially for those that spend six months of the year there. Both British and French governments have advised British expats to apply for a Carte de Séjour residency permit, however, many prefectures have halted applications until Brexit becomes clearer.

According to The Local,  both governments are willing to come to an agreement on healthcare as many French people live and work in London, and many Brits live and work in France. Unfortunately, no bilateral talks can officially begin unless Brexit has happened.

For many Brits, the idea of facing medicine shortages and feeling totally helpless is a nightmare. Many have said that, diabetics are stockpiling supplies of insulin by giving themselves less on a daily basis” to avoid dealing with shortages in the possibility of a no-deal Brexit. As Euractiv reported, “many of Britain’s 3.7 million diabetics, who include Prime Minister Theresa May, depend almost entirely on insulin imports from continental Europe.The hormone, which is usually produced by the pancreas, helps diabetics regulate their blood-sugar levels. A no-deal Brexit would almost certainly mean re-establishing customs and health controls, which could lead to delays at the border.”

But as the UK, Spanish and French governments are willing to alleviate any problems and help European residents and expats get the healthcare they need, they will hopefully be no problems in the case of Brexit.

As you are deciding to buy property abroad and worry about currency volatility and political events such as Brexit that cause unpredictable market movements, it is a good idea to get in touch with a foreign exchange expert and discuss your money transfer needs. Universal Partners FX have years of experience in the foreign exchange industry and can offer assistance when making regular payments abroad and sending large amounts of money internationally.