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Thursday, February 28, 2008
sandra
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The Euro is very strong at the moment
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/ticker/markets/default.stm
Bad news for those about to comlete on off-plan properties or contemplating purchasing immediately, unless you forward purchased your Euros last summer/autumn.
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sandra
An ex-smoker........the worst kind!
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28 Feb 2008 3:00 PM
Rixxy
Villa
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Dont rub it in!
I reckon its the reason its gone so quiet - the illegal builds, land grab, interest rate rises and hurricanes werent enough - the bloomin exchange rate has really done for it!
Oh well - off to the beach to top up the tan meethinks!
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28 Feb 2008 3:12 PM
morerosado
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Not good for new buyers, granted.
This message was last edited by morerosado on 2/28/2008.
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28 Feb 2008 3:49 PM
Acapulco
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A Morerosado post against forum rules !! Shock, horror !!
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28 Feb 2008 3:49 PM
Marksfish
Finca
I'm in Leeds, West Yorkshire/ Puerto Rey, Vera., Almeria
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Glad we bought when we did really. It seems hard to think that only in October last year when we sent out our final payment it was still 1.45. Sod interest rate rises as a means to "cool" the economy, we are having enough with having to find the extra £50pm (ish) for the mortgage payment!!
Mark
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28 Feb 2008 3:52 PM
Acapulco
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Rates are a bit of a blow for us who are planning to buy later this year .We may have to lower our sites.
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28 Feb 2008 4:32 PM
Acapulco
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Hope you realised my post was tongue in cheek More. I have great respect for anything you post as you have been very helpful to me.
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28 Feb 2008 5:09 PM
Lauryc
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I just rang Currencies Direct because we need to move some money. At the moment they are offering 1.26 as there has been a sudden drop again.
Perhaps the transfer will wait a few days and we'll cross our fingers. 
Laury
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28 Feb 2008 5:32 PM
Acapulco
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I bught some yesterday from HSBC to take to Tenerife tomorrow and only got 1.26 .
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28 Feb 2008 5:54 PM
Marksfish
Finca
I'm in Leeds, West Yorkshire/ Puerto Rey, Vera., Almeria
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1.32 at xe.com with a £12 charge for any amount. You need to set up an account though which can take a few days.
Mark
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28 Feb 2008 6:03 PM
Lauryc
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Was that rate within the last hour Marksfish? That's good. We are only looking to move about 3,000-4,000 pounds.
How are they so much better? CD said there had been a huge drop today.
Laury
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28 Feb 2008 6:12 PM
Marksfish
Finca
I'm in Leeds, West Yorkshire/ Puerto Rey, Vera., Almeria
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That was at 2pm this afternoon. I have just gone back and taken another look to find it has dropped again to 1.30739221. A very volatile market at the moment, I think it is pot luck to choose the right time.
Mark
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28 Feb 2008 6:39 PM
leema
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Just gone up again to 1.326
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28 Feb 2008 6:44 PM
Marksfish
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There are some HUGE variances at the moment. It doesn't usually vary vy two cents in a day, let alone over an hour or so  .
Mark
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28 Feb 2008 7:34 PM
sandra
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Rixxy, the earthquake we had Tuesday (it shook us out of bed.............I know, I know , earth moving and all that) following almost a week of freezing temperatures should be enough to have people scurrying to seek warmer climes. Enjoy the beach whilst you can!!
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The rate has been dropping steadily for a few weeks now but the past few days have been particularly volatile.
Any cash buyers budgeting £100,000.00 to complete on a property they bought when the exchange rate was, say 1.46 to the pound, will have to find another £11,250.00 if they have to complete about now. That will furnish the place and some left over!!
Also it means that for every £500.00 worth of euros required for holiday spending you will get about 100 euros less at the moment. How many beers is that? Much better to use your Nationwide cash machine card ( I hope you've all got one) than taking travellers cheques or large amounts of cash on holiday. And that applies whatever the exchange rate.
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sandra
An ex-smoker........the worst kind!
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28 Feb 2008 9:58 PM
chipmonk
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I'm in Staffordshire, England and La Cala de Mijas
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Lets not forget June last year the rate was the reverse and reached 1.51€ to the £1.00 before it dropped.
This message was last edited by chipmonk on 2/29/2008.
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29 Feb 2008 7:21 AM
Pitby
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Chipmonk, I don't think historically the Euro has ever been so strong as to equal GBP 1.50!!! I think you mean that you were GETTING Euro 1.50 for GBP 1.00!
On the other hand, if you paid 1.50 pounds for 1 euro last June, there is an exchange house somewhere that made a serious killing!!
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29 Feb 2008 8:25 AM
chipmonk
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Hi Pitby
Correct sorry better change it
I got 1.49€ last year as it was peaking and it did reach just over 1.51 and managed to buy the rest of my deposit at that rate and completed in November last year. The point I was trying to making was that it was the reverse to what the situation is now and I am like many having to pay the my mortgage at the now very poor exchange rate. Not knowing a great deal about the markets but watching it over a four year period I based my purchasing on 1.40 anything above that to me is good and below that poor. Hopefully the market will steady at 1.40 again in the near future and help everyone.
Kind regards
Paul
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03 Mar 2008 12:17 PM
ayobnyrnep
Parcela
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It still astonishes me that many Brits who live in the eurozone are opposed to UK replacing the pound with the euro. I remember good old Harold Wilson as he presided over the devaluation of the pound "...this won't affect the pound in your pocket!"
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05 Mar 2008 5:23 PM
Lauryc
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Well it just goes to show...
Currencies Direct offered me an exchange of 1.2502 this afternoon. I was so disgusted that I did some net trawling and finished up with Moneycorp who registered me same day and gave me 1.2825.
Not much difference there then.
Laury
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