February 2014 Archive

Monday 17th February 2014

Sterling on the rise

Property for Sale in SpainSterling  Euro exchange rates are once again closing in on a 12 month high following Governor of the Bank of England Mark Carney’s comments yesterday leading to a fantastic buying opportunity for those of you looking to buy your dream home overseas in the near future.


Mark Carney spoke following the quarterly inflation report for the U.K and this led to a nice boost in the value of the Pound leaving it up by over 1% over the course of the day’s trading. His comments surrounding future interest rate changes and the fact that his raised his growth forecasts for the U.K were taken extremely well by investors.


Just this small rise alone would make a €70,000 property purchase almost £600 cheaper which just goes to show how key it is to have an experienced and proactive currency broker on your side when buying a property overseas as the timing of the currency exchange alone can save you thousands of Pounds.


One thing to be a little wary of in the coming weeks is the terrible weather that we are experiencing in the U.K at present. There may be a knock on effect to the wider UK economy which in turn may filter through to the economic data figures. If these do weaken, Sterling may be pushed back down a little.


Girasol Homes' page on Foreign Exchange is here.


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