Sterling starts the week a shade below its several-month highs of last week, but still 1-3% above where it was last month against the Euro and US dollar.
After three years of headlines about “crucial days for the pound as Brexit talks reach a tipping point” the currency markets are currently becalmed as they await news on whether a Brexit trade deal will finally happen in just six weeks’ time. Whatever deal we get now is likely to be thin, and no doubt negotiations will continue in the years to come.
Like with lockdown v.2, where the public appears to be interpreting the rules in the way they themselves think is safest, our clients planning a property purchase or new life abroad are now planning for a post-Brexit world.
We saw that on Saturday, where we attended our very first Your Overseas Home property show in an all-online format. At the risk of sounding like Donald Trump, it was a big, beautiful event, more successful than the organisers could ever have imagined when the all-virtual plan was first mooted just a few weeks ago.
More people came through the virtual doors than we have ever had at a physical event, and all got their questions answered from the estate agents, international lawyers, tax specialists, removal firms etc who attended along with us. You can download a lot of the material if you go to the Your Overseas Home website here.
From the many conversations we have with clients, we can see that people are as determined as ever to enjoy their time in the sun. They’re busily working out how to achieve that, whether by buying a holiday home (where you will be barely affected at all by Brexit), or getting a visa. In most cases the latter involves little more than showing a modest regular income to prove you don’t need to work in Spain, France or wherever, and having health insurance.
It was also interesting to hear about the various schemes, such as the 7% tax rates on offer if you buy a property in some rural areas of Italy, or Portugal’s low-tax scheme for retirees. Do look at Property Guides comprehensive website for more details.
Lastly, the pound may look calm but we are waiting for a potential Brexit-shaped earthquake so do, as ever, talk to your trader on 020 8108 5337 about locking in this excellent rate for what promises to be a super-busy year ahead.
