EURO

[munroist3308]

I have noticed that the Euro against the pound Is 148. I am thinking of getting a forward contract with HIFX to lock into this rate. My property will be ready within the next 3 Months. Has anybody used this method.It seems a good idea as you are protected if the rate goes down.

[Tim]

Hi, if you buy ahead you get a lower rate [they have to cover themselves].
Best to shop around to see whats on offer from the various currency dealers. The furthur you buy ahead the lower the rate you are offered. Only worth doing if you suspect a big drop is in the offing - in my opinion,

regards, Tim.

[spekbum]

If you have a Spanish bank account (and you have the money to transfer now) you could send the funds to your account early and keep it there ready. It could save more money than keeping it in the UK. The last time the rate went over 1.48 I think was over a year ago.
You do of course run the risk of your house not being ready and have loads of money not doing anything.
Just a thought

[DC]

Re: EURO

I have noticed that the Euro against the pound Is 148. I am thinking of getting a forward contract with HIFX to lock into this rate. My property will be ready within the next 3 Months. Has anybody used this method.It seems a good idea as you are protected if the rate goes down.

I would reccommend buy half what you need then watch the rate till you need the rest.If the rate is below 1.48 when you need the cash you will not lose