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Great exchange rate offers helping hand to buy property in the Roannais by Peter Lavelle at PureFX.
Are you intent on buying a property in the gorgeous Roannais region of France, in the Rhône-Alpes? If so, whether you’ve got your eye on a farmhouse, cottage or chateau, you’ll be pleased to know that the financial burden has been alleviated recently, because the foreign exchange rate has improved. To be specific, sterling recently hit 1.40 versus the euro, +20 cents higher than 2 years ago.
What this means is that, once you’ve decided on the Roannais property you want, and transfer money to your French bank account to complete the purchase, you’ll receive significantly more euros. For example, were you to transfer £250,000 to France, you’d now receive €350,000 in your French account, +€50,000 more than if you’d bought in the Rhône-Alpes in January 2014, or 22 months ago.
So, it goes without saying that +€50,000 extra will help greatly toward completing your property purchase. For instance, you might use these extra euros to pay for the legal costs of buying in Roannais, or the real estate agent’s fees, or even use the additional euros to decorate your property. Whatever you wish, it’s a welcome bonus to take out the strain of buying in the Rhône-Alpes.
In addition, there’s an excellent chance that the pound to euro exchange rate will continue to rise, looking ahead, further cutting the cost of buying a French farmhouse, cottage or chateau. This is because the European Central Bank is being widely tipped to cut Eurozone interest rates, and expand its emergency program of quantitative easing, next month. Hence, this may weigh on the euro.
With this in mind, whatever the property you’d like to buy in Roannais, the favourable exchange rate will now lend you a helping hand.
By Peter Lavelle at foreign exchange broker Pure FX http://www.purefx.co.uk.