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Hi as anyone used TransferWise or SmartFX to lock down the euro rate for a property purchase?
If so how was the experience and how do you instigate it do you say when to buy or do they do it for you
Regards Andy
Posted: Wed Jun 12, 2019 8:19pm
Very helpful member
I bought and paid for the euros 2 months before I paid for the house.
By doing this i negated the risk of huge swings in the value of the £ increasing my purchase cost.
I wouldn't bother locking in.. The £ is at rock bottom now already. The only thing which will push it lower is no deal. Which is quite some way off. The only thing which will increase it is a deal. Again not on the horizon.
The £ will hover between 1.12 to 1.14 until the end of the summer. Nothing will influence it. I would pull the trigger once your broker can get you as close 1.14 as poss
Posted: Fri Aug 2, 2019 12:34am
Very helpful member
Agreed. All the talk in the currency markets was the £ has already factored no deal in.
Boris is really ramping it up though which has spooked the markets
I personally would tell anyone thinking of buying to hold off for 3 mths. Buy now and the yo you £ could leave in some serious negative equity
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