As Christmas Eve dawns, overseas buyers might find a little something extra in their stockings. The pound has strengthened by close to half a cent against the euro since the start of the week.
That strong performance extends to almost a full cent if you zoom out to the start of December, meaning that a €200,000 home has become about £1,500 cheaper, and that’s before you add in legal fees and other additional services. Of course it could have gone the other way, so should you be looking to benefit from these more attractive rates, be sure to lock in today’s rate by calling 020 8003 4915. Just call before 5pm today (UK time) and you’ll be able to enjoy your celebrations and gifts knowing your money is protected.
Speaking of gifts, we’re approaching the end of our special Christmas referral scheme where you and someone you refer each get £50, plus an additional festive £50 shopping voucher each. So if you know anyone with plans to buy or move overseas, why not give them a last-minute gift, a nudge towards our “Excellent” (according to Trustpilot) service?
Back to currencies, and as you might expect at this time of year, substantive currency news is a bit thin on the ground. The only significant data came from America, where we heard the US economy grew by a whopping annualised rate of 4.3% in the three months to October.
In Westminster, the government agreed to raise the inheritance tax threshold on farms from £1 million to £2.5 million. That marked a significant U-turn and an unusual one at that, coming as it did outside of parliamentary session. The decision will cost the taxpayer roughly £130 million annually.
Scottish whisky makers haven’t been feeling very jolly. Sales fell by 3% in the first half of this year and manufacturers and distillers are now sitting on something of a supply glut. They’ll be hoping British consumers put a dent in those numbers over the coming days.
We’ll be back as usual on Monday. From all of us at Smart Currency, we wish you and your loved ones a happy, joyous, and peaceful Christmas.
