Private wealth advice: Foreign property investors 'should lock in rate'

People considering investing their private wealth in foreign property opportunities have been advised to lock in a rate while the exchange is favourable.

Karl Pierre Sieha, marketing assistant at Currencies Direct, suggested that those who want to invest in real estate while the euro is at 1.1388 against sterling could look to keep the rate at the same level and complete the sale in the next couple of years.

Earlier this week, the Bank of England revealed the latest currency update, which shows the euro has declined against the sterling compared to its 52-week high of 1.2366.

"Because the market is changing and fluctuating all the time, it is all about getting the best rate," said Mr Sieha.

He added: "You can't predict what tomorrow is going to bring; you can only be speculative based on the economic climate."

Therefore, investors could choose to lock in a rate and close the transaction in two years, Mr Sieha suggested.

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