The pound’s 10-day fall has continued this morning and against the euro it is now around 1% down on the mid-August peak and a little more against the US dollar, although that slide has been ongoing since the early summer.
The blame last week can be placed on the final end of any vaccine advantage the UK had (much of the EU having finally caught up and overtaken the UK), the rising numbers of cases a month after the government’s big gamble on opening up again, and disappointing economic data last week.
But enough of the gloom!
You are still getting 5% more euros for your pounds that this time last year, 6% more than 23 August 2019, 4% more than August 2018, 6% more than in 2017 and… well you get the drift.
Talking to those who have recently made the trip back from France and Spain on the hunt for houses, the testing and bureaucratic processes involved are more than made up for by the pleasures of beating the crowds. And if you can’t get a restaurant reservation in any coastal resort in the UK right now, you certainly can on the costas and rivieras of mainland Europe.
The end of summer is traditionally the start of a property buying season, as well as a time when many of us mentally commit to starting a new life abroad.
If that’s you, your first port of call should be a telephone conversation with your trader on 020 8108 5163. He or she will be able to explain exactly how much you have to spend at today’s rate, how you can lock that in, and how the whole process works.
