Going Down for the Third Time?

The pound has dropped yet again against the euro at the time of writing and looks set to drop further………..

according to our sources at the currency exchange companies. We always recommend buying ahead when close to completion…Sometimes you just can’t win and when you have your money available, time can be critical. A recent client contacted a currency exchange company half an hour after we did, to confirm the deal. He lost £800 in that half hour.

Nobody has a crystal ball and many speculators and so called experts have gone bust playing the money markets.

On the bright side, if you are looking for property, then prices are falling and there is little activity, so you could probably recover any losses from exchanging currency if you are prudent. You could always rent for a while and see how things go.

Not all buyers are British and there are lots of euro toting foreign types who do not suffer from our British problem, so the property market here may not suffer as much as we Brits think. You need to know when prices are inflated, where the bargains are and how to find the best rented property in the area. That’s where we come in………

Mike Pick Homesearch Costa Blanca

Tags: bank charges, currency charges, currency exchange, euro, exchange rate, pensions