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Brexit and funds

Posted by Capes crusaders - Created: 3 years ago
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10 replies (Showing replies: 1 to 10)

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Posted by Capes crusaders - 3 years ago

Thanks Rita T - its lovely to hear positive things about the place, all the negatives seem to be outweighed as far as we're concerned and so we're really looking forward to the lifestyle over there and cant wait to make it our home - we're a fair bit off yet though but hopefully sometime thisyear

kind regards

 

Claire

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Posted by Rita T-387361 - 3 years ago

When we bought our house here in 2002 The exchange rate was something like 1.65  and as we had reasonable pensions our money went a long way.Diesel oil etc was half the price it is now.Then a few years later the exchange rate was a nightmare and oh how we struggled.But we wouldn't change our life here for anywhere in the World .France is a Beautiful country ,with Cultured well mannered people.We thank God every day that we made the move,and we wouldn't go back to England for all the Money in the World.So I say ,go with it if you don't you will never know ,life is an Adventure.Good a Luck .

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Posted by Capes crusaders - 3 years ago

Thanks  Grannydot, we have fallen in love with the place and the way of life, we're not at pension age but as I'm of an age I can draw down a small pension and we have other things so financially although not rich we would have enough to keep us relatively comfy and as for the lifestyle well, we envisage after our trips over there it could be everything we want.  We know the beaurocracy will be a headache, we know there will be frustrations along the way but I think it'll be worth it - you sound really positive and yes we think we will absolutely love it there x

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Posted by grannydot-403561 - 3 years ago

We bought our property when the exchange rate was 1.48 .  We have managed to survive on just 2state pensions through good and bad, sometimes as low as 1.06/07 when it is good our "excess" in the current account goes up, when the ex rate is low it gets used up a little.  But we survive.  The bottom line is.  Do you want to live in France or carry on living in the UK.  or are you coming here to live cheaper, because after you have bought your house it isn't much different than uk. Food is cheaper there because all the supermarkets compete, here no one puts a price down, just because another supermarket has done. 

As the saying goes you pays the money and take a chance.  Good luck, you will love the life here.

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Posted by Tryval - 3 years ago

OP, sorry buy/transfer soon.

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Posted by Tryval - 3 years ago

Few years ago, I saw the flamingo's walking on the ice in the Camargue!  and the Pound will be much weaker soon (exports too expensive), hopefully, before I pay my dentists bill next week via BOS.

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Posted by valbonne-home - 3 years ago

marginally better weather - not down here 2 days of rain in 2 months... Temps around 60f all winter with 1 night of a minor frost. Average price though is €4500 a square metre.

Expect the GBP to be equal with the EURO by year-end & about $1,20ish.

The island is sinking and there is no way back. Look at the export/import figures published today.

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Posted by Capes crusaders - 3 years ago

All4one, I agree .. The majority of the 'french' market will be unaffected, although no expert the properties I've looked at in general haven't been french owned, they have different tastes to us Brits and prefer more modern houses so yes that side of the market won't be affected ...... But the English or non French owned longeres and old renovated properties which are not the Frenchs first choice of accomodation will be affected as the prices are invariably inflated due to their ex pat appeal.  The appeal for me is of course house cost but more importantly the quality of their way of life, the courteous and polite nature of the French residents (or at last the ones I've met) the uncluttered roads and just the general beauty of the area we have chosen. Massive reduction in my sterling or anyone else's must have a knock on effect of what you're able to buy or willing to offer ... To add to this most properties I've seen have been on the market some signifcant time so they're either overly inflated or a little undesirable shall we say.

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Posted by Dibbyspot - 3 years ago

The critical thing is to buy your property at the right - lowest price. People make money on most thing by considering the purchase price. In France house prices will rise directly in relation to the £/€ exchange rate. In the UK house prices will remain high due to limits in supply.

The EU and UK is a tired debate held for the purposes of self flagellation in the Tory party - sadly we all UK citizens have to become embroiled this tired little debate.So be it.

If the UK leaves the EU the £ will probably fall against the Euro. The best way to manage that is dont sell your UK house, rentals will rise, and ensure that your French property is set up to benefit from low running costs; with high levels of insulation, solar PV panels and a garden.

That said probably worth taking the risk and enjoying livfe in France with the benefits of less traffic and marginally better weather! But in the end the choice is yours.

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Posted by all4one-10057182 - 3 years ago

Why should it have any effect on house prices ?

French house prices reflect the French economy, which is obviously in euros and 99% bought and sold by French Nationals, prices depending on supply and demand as in most countries.

Exchange rates only affect foreign buyers and this has always been a some you win, some you loose situation !!