The pound slipped to its lowest point for nearly three months yesterday. Optimism in the markets since 29th March that a hard Brexit from the EU can be avoided has begun to wane. All roads now appear to lead to a stronger advocate for Brexit replacing the Prime Minister by the autumn. The prospect of a Conservative Party leadership campaign over the summer will have many people heading for the airports. The question is, what sort of exchange rate will they find there?
If you look back to May 2017 the GBP/EUR rate was very similar to today, yet by the summer was 10 cents down to below €1.08. In the early part of the spring that was down to Theresa May’s disastrous election, but the losses continued to the autumn. If such a loss would damage your chances of buying abroad – or at least cost you tens of thousands extra – we can help.
EUR/GBP rate, May to August 2017
So anyway, back to 2019. It’s just a week until the Euro elections, which promise to be another disaster for the Prime Minister, just like 2017. There seems little prospect of good news from the cross-party Brexit talks either, or anything that could help the pound. I would, therefore, strongly suggest looking at the budget you need for your plans abroad, and then talk to us about removing the risks to that budget. It could soon be too late.
We’ll be attending Your Overseas Home shows in Chester on 8th June, Harrogate on 5th October and Epsom on 9th November.
But please don’t wait until then, do call your trader on 020 7898 0541 to hear how we can help you start a new life abroad (or at least buy a holiday home). It’s not really that difficult to buy abroad, we’ve helped tens of thousands of people to do it since 2004, and you can read 1,000+ of their experiences here on Trustpilot.
