The pound has settled in against the euro and US dollar at about 4% down on its highs of just three weeks ago. Given the leadership contest for Prime Minister and the many directions that can go, with such a small and unpredictable electorate, you’d have to say it isn’t a bad rate. Anyone serious about buying a home abroad this summer or autumn should probably grab it with both hands and lock it in with a forward contract.
Given what has happened over the past three summers, it would be only natural if you looked at the summer months with some trepidation. Every recent summer we have seen the GBP/EUR drop to €1.10 or below and I certainly wouldn’t want to bet my future plans on it not happening again.
We are heading up to Your Overseas Home in Chester next week. The latest, I believe, is that the tickets have nearly all gone (but do enquire here about other international property shows) which just goes to show that many are using the remaining five months before 31st October to buy abroad and lock in their EU rights.
If you would like to do that, call your trader today on 020 7898 0541.
