what to include in a vivendia contract

Hi Everyone,

Please tell me if l am doing this wrong but l have just worked out the cost of buying the Euro's l need to purchase my property (the balance) and due to the fact that it is only 1.34 € to the pound it means our properties are going to cost around £5000 more. Am l doing this correctly?

Does anyone know why the Euro has fallen against the £?

Please advise....

James

Hi James,

I am afraid you have done your sums correctly. The properties at Mirador have gone up by  over £5000. We only purchased ours in Nov.  So it is really shocking for us to see such a huge increase in just 2 short months. A big concern. But one we have no control over. There are ways of locking in an exchange rate...for transferring money. If you deal with someone like Moneycorp.

 The Euro exchange rate has deteriorated against the pound..due to the collapse of Northern Rock...and the weak US Dollar...to which we are closely linked. Making the Euro much stronger...as the pound falls. Other issues involved.are a result  of the property markets slowing down....and mortgage  lenders  now clamping down..after serious faults in the lending process over the past few years.  Money is not so freely available.  Hopefully, with a new year..the market will settle..and exhange rates improve. 

I do feel that even with the increased price...the properties at Mirador... are a really good investment.  I have seen nothing comparable for the money. In fact, it is very difficult to find Anything for the same price, anywhere.. And we have looked long & hard. Lets hope there is a break soon..and the pound gets stronger. So we don't have to pay all the extra cash.  Best of Luck, Carol

hi     the euro has dropped like a stone ,the 1.34 is even doubtful as currency brokers will take a proportion of this if you tie into a deal,you have not got time on your hands to try to get a higher rate.

the rates quoted are not what you will recieve they will be lower and the shorter the time till your purchase the lower the rate you will recieve.the concensous is that the euro will still drop further

as britians interest rates are likely to be cut affecting the pound against the euro.

i tied in with moneycorp back in may and have just recieved my full payment in euros for purchase of property.i managed to get 1.443 to the pound then and the euro was on a slide,it was showing 1.48 in the currency markets but i only managed to achieve 1.443(moneycorps cut)

1.27 today terrible.hope you manage to arrange  some sort of deal on this saga 

cheers