We’re delighted to say that the first Your Overseas Home of the year, which we sponsor, is already oversubscribed. It’s an international property show where people can get all the advice and information they need from lawyers, currency specialists, estate agents, mortgage companies etc. It saves spending time getting this information on a viewing trip abroad, when they would rather be looking at homes! You can still get tickets for the show in Manchester in April and there will be others throughout the year all over the country.
So we know there is no lack of appetite for buying property abroad, any more than there is for doing trade abroad. I do wonder, however, how those thousands of would-be buyers will feel about their overseas homes being likely to rise or fall significantly in price this year due to fish.
That is where we are at as trade talks with the EU begin in earnest in just a few days time, with EU access to British fishing grounds a key factor. Somehow it seems inevitable that it would all come down to fish in the end.
For overseas buyers though, the pound is still managing to hold its own against the euro and US dollar. That may well not last what could be a short meeting between the EU and UK next week. If you’re planning a purchase or major transaction abroad this year it may well be worth reeling this rate in and landing it. You do that with a forward contract that holds the rate for a year.
Speak to your trader today on 020 8108 5337.
