The pound took a dive yesterday as the Government made a bid to ensure that the transition period end date becomes law. It was yet another surprise to those who under-estimated Boris Johnson and figured that now the election was won and the Brexit Party neutered that he would take a more emollient approach.
I have to say, it wasn’t entirely unexpected. Maybe the speed of the decline – 1% in one day – but not the direction of travel.
What a difference a week makes. I know that many of our clients who are planning a major purchase abroad in the next year are rather going through the wringer. As I never tire of saying, it doesn’t have to be this way. You can lock in this rate, still well above the post-Referendum average, for the year ahead with a forward contract.
We expect to have a busy year as British people push ahead with their move abroad during the transition period, and Europeans move to the UK. Living abroad is a two-way street and there is no doubt that this is a good time to buy for anyone moving back to the UK.
For those who aren’t ready to move in the next year, there will be options for visas. Look out for Spain’s non-lucrative visa and Portugal’s D7 visa but do remember that property buying in itself is not affected by Brexit.
What people need now is impartial advice. So we are delighted to have the first date for Your Overseas Home, the international property and advice show for people ready to buy, but needing some advice to tick those final boxes. It’s just round the corner from us in Hammersmith on 7th March.
In the meantime, do call your trader on 020 8108 5337. We’re here every day except the Bank Holidays.
For those who are knocking off for the festive period, thank you for reading my missives over the past year! Do have a wonderful Christmas and very happy, safe, 2020.
