Terry,
The Euro rate has dropped significantly in the last few days : see .......
http://today.reuters.co.uk/Investing/Currencies.aspx?src=dg
It was, as you say, up to about 1.52 briefly when the BOE raised interest rates - that would have been a good time to exchange !! Unfortunately we set up a forward contract last November when the rate was 1.48 and the rate offered was just under 1.47 (you always get less for a forward contract). Timing is everything - and foresight even better....
I hope you're not right when you say that Michelle said you'd need the money within the next 2 weeks - when the builders have released the properties to the agents then you normally (well, with Atlas anyway) have upto 6 weeks - after the snagging inspection is complete - to complete the purchase.
Even if they released today, that still means you ought to have upto until mid April ..... i.e. 9 weeks..... but if they don't release until end Feb then that extends to end April - when the Euro rate might be better (or maybe worse !!).
Dave (and Ailsa) 2A