Money transfers to Spain to help expats?

Money transfers to Spain could prove particularly useful among retirees as the country has received an influx of expatriates.

According to Taylor Wimpey de Espana, a leading house builder in the Mediterranean country, almost a fifth of all buyers choose to live in the region to enjoy the balmy weather in their retirement.

They join the 400,000 or so expatriates already enjoying life in Spain, according to research from finadaproperty.com.

However, expatriating isn't cheap and it will pay off to look into the best way of doing things first.

Keeping an eye on foreign exchange rates on the euro and using a money transfer service to shift your funds is one way of lowering your costs when you do decide to expatriate.

Val and Mike Reay, from Northumberland, have recently bought a three-bedroom town house in the town of Calpe in the Costa Blanca.

They explained that they love "the house, the area and everything about our Spanish home".

"Our children and grandchildren visit regularly as do other family and friends," the couple added.

"We spend two months in the UK and two months in Montesol alternately."

Britons considering retiring to Spain could find that now is a good time to purchase property in the region.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, said: "House prices have reduced and so those looking to purchase in the best areas can make the most of the current market and snap up excellent value property before the prices start increasing once again."

But Britons might want to follow the euro foreign exchange rate carefully first since the pound is not performing particularly well against the single currency at the moment.