The pound is standing its ground against the euro despite some signs of the UK housing market slowing down and the challenges of the months to come as the economy comes out from the longest lockdown so far.
We started the week seeing the rate going above 1.16 which represents the best level for the currency pair since February 2020. Great news for those looking to make a payment now or to take advantage of the current rates for a payment in the future.
However we must not forget that things could change rapidly if new circumstances –such a new strain on COVID or a relapsed on the number of infections- were to happen. It is a fragile an uncertain balance that cannot be taken for granted as we saw last year.
If you are looking at buying a property in France and you are not holding euros, the price the property will depend on the rate of exchange at the time of making the payment. The impact of the fluctuations can make or break your budget so make sure you get some guidance to plan the best way to exchange your funds by speaking to a foreign exchange specialist like moneycorp.
At moneycorp, they are used to work with property buyers from the earlier stages to help them getting familiar with the rates and knowing their options with the purpose to protect or even maximise their budget.
In fact, one of the benefits of using a specialist such as moneycorp is not only the access to competitive rates but also the ability to access some currency tools to help you planning your transfer, so for instance you can lock the rate of exchange in advance –up to two years- via a forward contract or track a rate via a market order.
Opening an account with us doesn’t involve any cost or obligation but will give you access to some expert guidance that will help you planning your transfer. Plus with FrenchEntrée you can enjoy free transfer fees in all your payments to France.
With a Platinum Trusted Service Award 2020 from independent review site Feefo and 40 years of experience in the industry, FrenchEntree has been recommending moneycorp for more than 15 years. During this time they have helped thousands of client planning the best way to pay for their property as well as supporting them afterwards with any further payment from paying bills, mortgages to repatriating UK pension payments for those who have retired to France.
Furthermore, we have worked with the same person at moneycorp for more than a decade! You might be familiar with her as she often writes for our FrenchEntree magazine. She has 13 years’ experience in foreign exchange, and is a qualified European lawyer with experience in European transactions. Mar will be happy to answer any questions or enquiries to support you through these difficult times
Opening an account is really easy and free of cost. You can register online or over the phone in a couple of minutes and for FrenchEntree there are no transfer fees in any payment.
Open a free account today by clicking here.
Contact moneycorp at 020 3773 6355 or send your enquires here.