Sterling Recovery: one week later

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They say what goes up must come down…..and so the same is true in reverse (depending on your point of view and whether you’re buying euros or selling).

The end of last week saw a significant rallying in the value of Sterling following the announcement of Theresa May as the new Conservative party and Prime Minister, ending at least one period of uncertainty in the UK political scene.

So what does this mean for buyers, sellers and people already living here? One week ago we were sitting around the £1 = €1.175 mark, whereas today £1 is worth approx. €1.1977…..quite a difference! For a client buying a property who needs to transfer €250,000 the cost last week would have been around £212,765 – today the same transfer will cost approx. £208,733 – a saving of over £4,000 !!!

However, as I always point out – and as we’ve seen – the rate pairings are volatile to say the least and the only way to get the best possible deal is to chat with Currrencies Direct and give their Dealers time to understand what you need to do, and timescales so that they can offer the best possible service to make sure you get the best deal for your transfer.

And of course, even if you register, you have absolutely NO OBLIGATION to use their services – just pick their brains……so you have nothing to lose and possibly thousands to gain!

Contact local representative, Fiona, for more info or a live quote on fiona.w@currenciesdirect.com.

P-O Life

Life in the Pyrénées-Orientales

Sterling Recovery: one week later

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