How are British expats affected by Brexit?

How are British expats affected by Brexit?

How UK Expats are affected by Brexit

According to the United Nations, 1.3 million Britons live in Europe and the Brexit ultimatum is causing unrest. The referendum has worried large flocks of British expats, because of the uncertainty and lack of clarity which surrounds the departure from Europe.

So what are the possible implications for expats living on the continent? 

Former attorney general, Dominic Grieve QC, expressed that Brexit would result in British citizens “becoming illegal immigrants overnight. If Britain doesn’t maintain some form of free movement after Brexit.”

Additional anxiety circles the idea that EU states will be angered by the Brexit decision. Therefore they could put pressure on British expats in revenge. UK retirees living in Spain, could be forced into paying for their own healthcare, or be cut from access to healthcare altogether.

A shared hope is that expats will be able to secure their continued right to work, reside and own property in EU states. In addition to access to public services, such as medical treatment. Unfortunately for Britons in Europe, these rights can not be guaranteed yet.

Is it all doom and gloom for UK citizens who live in Europe? 

Britain will remain in the EU for at least another year, while the terms of the UK’s exit are negotiated under article 50. This means that any British expats will still be entitled to the same rights as any other EU citizen, while the discussions are ongoing.

The BBC reported that UK expats will be able to maintain the ownership of their properties in Europe. The problems are most likely to be associated with alterations in inheritance and tax laws.

Who will be affected?

Pensioners account for the greatest numbers of British expats living within EU countries. Many of the demographic rely on their pension incomes to enjoy life in the Mediterranean sunshine. Any fluctuations in currency could jeopardise the pension totals.

Another fear is that state pensions will lose the current protection they receive from being within the European Economic Area. The decision could potentially be made to freeze pensions, like expats currently residing in Canada.

What do we know for sure?

The future of how British expats will be impacted by Brexit is still largely unknown. But we believe that an increasing number of indicators will start to develop as the negotiations continue.

In the meantime, if you are an expat pensioner, there is a strong chance that you could be entitled to a pot full of unclaimed money. According to findmylostpension.com, a quarter of unclaimed UK pensions belong to expats. The valuations range from £2,000 to £30,000 per year, and there are tax-free lump sums of up to £40,000.

If you would like to search for any lost assets. Monimine.com allows you to search for unclaimed money for free. If the details you enter, match with the records we have acquired from financial institutions, we can reunite you with your money.

Josh Cousens – Monimine. 

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Why Monimine Can Help You Claim Money

Why Monimine Can Help You Claim Money

how monimine help to claim money

If you wanted to find out if you could claim money from a lost asset – would you know where to look?

Here are your current options in the UK:

  • The Unclaimed Assets Register, run by Experian provides a central resource for people searching for dormant accounts, pensions, shares or life policies, or those of a deceased spouse. This register will charge a £25 fixed fee per search.
  • My Lost Account (MLA) was created at the time of the Bank Act to give consumers somewhere to register a request for information as to the possibility of an account with a specific bank. It is not a database, but simply a post-box where emails from consumers are forwarded by MLA to the appropriate bank, who may reply to MLA to forward back to the consumer.

Unlike Monimine, neither of these services are automated and FREE to the consumer. Monimine also assists the financial institutions and ultimately helps customers claim money they are entitled to.

The other services are labour intensive processes, have limited effectiveness and do not address the bulk of gone away accounts in which the consumer is unaware of what they could be entitled to.

START YOUR SEARCH TODAY – monimine.com

Josh Cousens – Monimine

How Monimine Can Help You Find Your Missing Money

How Monimine Can Help You Find Your Missing Money

Millions of families could be entitled their own portion of the estimated £25 billion of missing money. This money has been caught in the web of financial institutions. Monimine has been engineered to help source the rightful owners to billions of unclaimed assets.

Monimine is a FREE data-matching service that plans to reunite families with lost assets from ‘gone away’ accounts.

In a nutshell, Monimine will provide the link between the rightful beneficiaries of missing money and the financial institutions.

The unclaimed money could come from an array of destinations. These may include life insurance policies, workplace pensions and rainy day savings. These may have even been set up by relatives who passed away a long time ago.

The innovative technique that has been utilised by Monimine is at the forefront of digital technology. It will serve as the best opportunity of connecting families with the data from financial firms. The technology, paired with Monimine’s unique expertise in the industry is an unbeatable combination.

Government figures predict that £25 billion is sitting within large financial institutions, but they have difficulty tracing the rightful ‘gone-away’ owners. This is because of complications such as name changes, moving address and unreliable record keeping.

Josh Cousens – Monimine.