The pound hits midweek around 1.25% weaker against the euro and nearly 2% weaker against the US dollar compared to this time last week. Against the euro it has slipped back to where it was in early May, but would still be viewed as an excellent rate at almost any point in the past five years.
With both domestic “ping” rules and international travel regulations seeming to change by the hour, it looks like virtual viewings are back on many property buyer’s agendas.
I know that some of our estate agent partners in France, Spain and Italy are finding clients like this way of doing an initial viewing. True, you don’t get to sit in a nice French café discussing your last viewing, but it’s an efficient way of weeding out the unsuitable properties at an early stage and finding an estate agent you can work well with.
Some agents offer video walkthroughs, where you direct them through the property, garden and even surrounding area. For the next stage you can book a surveyor or local architect to check the property out for you. Then, if you like it you can either go ahead and make an offer, subject to confirmation when you see it, or just go right ahead and buy it. Many have, over the past year.
At every stage your account manager at Smart will be able to help you along the way, firstly in ascertaining your budget, then making a deposit, then protecting your budget from exchange rate movements.
Most importantly, when you make an offer, call us on 020 8003 4915 to discuss a forward contract. Otherwise movements in the exchange rate can take the property out of your price range – potentially taking your deposit with it.
Even with the recent drop GBP is still 5% above this time last year and could easily return whence it came.
