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Hi Everyone,

just got back from CDP. Very impressed but now worried about the conversion rate.

We were advised that the £ may rise slightly in the last two quarters of this year but is then expected to fall back again - eventually to a 1:1 rate with the euro !  Should we buy  our euros now?

Has anyone heard anything along these lines please? We would be interested in your opinions.

All the very best,

Marilyn & Rikki

Hindsight at 1.48 would have been good, but we are where we are.

We are going to monitor the rate and when it is at a figure we are comfortable with,  we are going to reserve our balance.

If we don't get to that figure, we have decided to take out a mortgage, and this would mean that our poor sterling to euro rate will be based on monthly payments only amount.  If and when the euro gets to a level we are happy with we will pay off the mortgage.

In the interim you are getting a decent rate on your savings!

Worth a thought.

Hi

Have you looked into the cost to set up a spanish mortgage, if you have not I think you will get a shock at how much it is. But I think your right to go this way if it falls any more, as it stands at the moment we will have to pay another £17.000. but still we are dying to move out there.

Hi

Have you looked into the cost to set up a spanish mortgage, if you have not I think you will get a shock at how much it is. But I think your right to go this way if it falls any more, as it stands at the moment we will have to pay another £17.000. but still we are dying to move out there.

Hi

In reply to the person that said that they had heard that the pound will rise in the last two quarters and then move back down again to a 1:1 ratio.

How long is a piece of string? Nobody knows with any real degree of certainty. You may as well look into a crystal ball as many things will determine what will happen to the value of the pound/euro in the future. For every 'expert' that is wheeled out on TV there will be another one with completely the opposite opinion.

For what it is worth I think that as the pound is at it's lowest against the euro it can only bounce back again. The pound isn't low against the dollar, therefore it is safe to assume that it is the euro which is strong. Something that will not last forever as the credit crunch bites in europe.

Gordon