Hindsight at 1.48 would have been good, but we are where we are.
We are going to monitor the rate and when it is at a figure we are comfortable with, we are going to reserve our balance.
If we don't get to that figure, we have decided to take out a mortgage, and this would mean that our poor sterling to euro rate will be based on monthly payments only amount. If and when the euro gets to a level we are happy with we will pay off the mortgage.
In the interim you are getting a decent rate on your savings!
Worth a thought.