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Posted October 2nd, 2014 by Charles Purdy

The pound’s rebound – foreign homes cheaper this autumn!

On the verge of needing to buy euros for an overseas property purchase? Then now could be an ideal time after the exchange rate swung back in favour of Brits, thanks to the confidence boost the Scottish ‘No’ vote has brought, slow economic recovery in Europe and hints that an interest rate rise in the UK could be on the cards.

Now, at the start of October and with autumn about to set in, the pound is hovering around a two-year high against the euro at £1/€1.28, while against the dollar it is £1/$1.62. Even just three weeks ago – in the run-up to the Scottish referendum – anyone making a high value pound-euro transfer would have received a worse deal than today. The rate then was in the mid £1/€1.24s.

In real terms, this means that at today’s rate of £1/€1.28, a £100,000 property abroad would cost £78,125 (based on interbank exchange rates), while three weeks ago when the rate was £1/€1.245 it would have cost £80,321 – approximately £2,000 more – the cost of a new kitchen or bathroom in your new holiday home!

It is usual for important political or economic results to cause volatility in the currency – and other financial – markets. For anyone whose money could be affected by such movements, speaking to experts before your funds are exposed makes sense. Currency specialists like Smart Currency Exchange not only offer better exchange rates than high street banks, but they understand how exchange rates might react to key economic events and can propose ways to protet the value of your funds – something that is vital for someone intending to use pounds to buy an overeas property that is priced in a foreign currency.

Find out more about how Smart Currency Exchange could help you save money and send money abroad safely by downloading their free guide.

 

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Posted September 17th, 2014 by Charles Purdy

Paying for our French home was easy with Smart Currency Exchange

Thoughts of holidays at their new French home is enough to put a smile on the faces of the Andrews family, who saved money by using Smart Currency Exchange when they purchased across the Channel. When Mark and Judy Andrews from West Sussex found their ideal French property, a traditional farmhouse in Poitou-Charentes, they used  Continue Reading…

Posted May 15th, 2014 by Charles Purdy

Make a bargain even better in a buyer’s market

Flat is the best way to describe property markets in most southern European countries, which means a buyer’s market and low house prices. For British buyers though, during the first half of 2014 conditions have swung even more in your favour, thanks to the stronger pound. Since the start of the year, the value of  Continue Reading…

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