Iberia runs regular redemption offers on flights to and from Spain and the UK, which can make it cheaper to move Avios points to Iberia Plus from BAEC or avios.com and redeem from there, rather than booking directly from BAEC or avios.com.
Iberia is currently offering a 25% discount on Avios redemptions between Madrid and London in July and August, so 5,625 each-way instead of the usual 7,500 in Economy. It may also be possible to get this rate to other UK or Spanish destinations, given that regional connections in Spain and the UK are free on Avios redemptions.
There is a snag, though. In order to avoid paying the full rate of taxes by getting a ‘Reward Flight Saver’ redemption, you need to have earned 1 Avios in Iberia Plus. Transferring an Avios from BA does not count. Until last week you could get this by opening an account with Spanish online supermarket alice.es for 100 Avios, but that offer has now been pulled.
If you have an Iberia Plus account which does not qualify for Reward Saver and you think you might be interested in future redemption ‘sales’ to Spain on IB, you should try to credit 1 flight segment, 1 hotel stay or 1 car hire to Iberia Plus so that you qualify next time such an offer comes around.