Hi all - following our recent visit it is clear real progress has been made on the works, given the current exchange rates and upcoming UK election i contacted Tamara about paying Anjoca early to lock in the current rate, they are able to accommodate this and it would be covered by the bank guarantees if anyone is interested. I would be happy to hear from anyone with similar experience of waiting and watching exchange rates or any other wise words, alternative is to put it in our Sabadell account but not keen. UK Brokers will tend to hold it for a week or so then want you to make payment to the beneficiary. Many thanks to all that read this.
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The only down side of this is that if the Conservatives get a majority & form the next government we will have a Brexit deal passed & the £ should rise 😁😁
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Yeah the dilemma, the forex "experts" suggest this is priced in on to the rate at around a 50% chance of a majority, tough to call.
Always worked on 1.15 as a benchmark.
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That's why i love this forum , more often than not someone takes the time to offer wise words, thanks Sam. I think for now i will continue to drip little and often into my Sabadell account in the run up to the election.
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Hi Sam,
It wasn’t sarcasm 😁😁 just that the general consensus (in my understanding of things) seemed to be that if a deal was passed the £ would benefit. Even a small percentage increase would make a difference to the value of a few hundred £’s in the kind of
Money needed for a property purchase.
I remember when buying ours the £ was as low as I can remember (think it was in the region of 1.105) but we had no choice as we needed to proceed to finish the deal ☹️☹️
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If you are happy with the exchange rate why don't you just buy Euros on a forward basis to lock in the rate without actually having to move the cash?
The rate you get is just the current spot rate adjusted for the interest rate differential between the two currencies.
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See if you can do a range forward to frame your expected completion date.
I don't put a lot of value into currency predictions. Peter Kinsella was predicting the euro/dollar rate would rise to 1.17 back in
April when it was 1.1230. It never got above 1.13 and is currently 1.1050.
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Getting close Sam to your 1.17,
Revolut woke me up today, had forgotten I had set one, not auto exchange just a message alert which pinged on my phone.
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13-11-2019, 12:29 PM
(This post was last modified: 13-11-2019, 12:30 PM by Spitfire58.)
This is what I was saying the other day:
https://www.poundsterlinglive.com/eur/12...ives-moves
A 4 cent to the £ increase would amount to £6k on a transaction of £150k. Speculation, yes but not to be sniffed at for the sake of waiting 4 or 5 wks. IMHO 👍👍
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