Understandably, the US election is taking up most of the headlines this week, but it is not the only event that will move the markets.
Later today, the Bank of England will announce its interest rate decision. Expectations are rife that a rate cut could happen, and comments and future guidance by Andrew Bailey will materially change the course of the British Pound Sterling, in the next moves by market players.
That represents a cash saving for UK buyers of over £60,000 buying €2 million compared to what the prices were in August.
One financial product that in recent times has been gaining popularity with our UK clients is the forward contract, which allows clients to secure their euros up to a year in advance by lodging just a small margin against the contract. This strategy is an excellent way to hedge against adverse market movements. If you are looking to buy a property in the next few months, then it’s an excellent time to buy euros.
We would advise you to get in touch with us and talk through your options and lock in some good rates. We also have our different Visa schemes that help shelter funds in a secure tax jurisdiction.
