The upcoming EU Referendum has dominated the news for the first half of 2016, and has of course been a particular concern for those of you considering purchasing property in Europe.
While many people have held off on making plans until a decision has been made, the polls now suggest that the Remain campaign has the lead, with even those who have been vocally supporting the idea of a ‘Brexit’ now pledging support to the staying in the EU – such as older voters and Conservative voters.
If the UK does vote to remain in the EU, this will most likely create a rush as everyone who has been waiting pushes forward to find their dream property over the summer.
If you are one of those waiting to move ahead with your property purchase until after the 23rd June, it is important to make sure that you are full prepared to move as soon as the results are revealed so that you don’t miss out on any opportunities – especially if the polls are correct and an ‘in’ vote is passed.
If the UK does vote to remain in the EU, this will most likely create a rush as everyone who has been waiting pushes forward to find their dream property over the summer. This will make it more difficult to secure viewings for properties, leave alone the properties themselves. Having everything sorted in advance will ensure that you won’t miss out.
Make sure you are ready to move
- Get started on your research now. Where do you want to live? What kind of property do you see yourself in? We can help narrow your choices down.
- Find an estate agent. You can line up a viewing trip now to spend some time viewing properties. We can put you in touch with an estate agent with expertise and the right skills to find the right property for you.
- Open an account with a currency specialist. The currency exchange rate you achieve will have a significant effect on your property purchase. By opening an account with our currency partners, you can take advantage of all the tools they offer to make the most of your money. This gives you the chance to pay the deposit as soon as you find the right property for you.
- Find the right solicitor. Having an independent, bilingual solicitor on your side through your process will ensure that you interests are handled throughout the purchase process. We can put you in touch with an independent solicitor who can help you navigate this process.
This push for the ‘Remain’ campaign has already had a significant effect on sterling’s strength against the euro.
This push for the ‘Remain’ campaign has already had a significant effect on sterling’s strength against the euro, after weakening dramatically since the beginning of 2016. While the currency markets are always an uncertainty, we would expect this to continue should the Remain campaign stay strong – especially once the voting has passed. The 4% appreciation seen by sterling against the euro over the last month or so has made the purchase of a €200,000 property over £6,000 cheaper; if sterling strengthens further, property in Europe will likely become cheaper and cheaper for the British buyer.
Make sure that you are at the front of the queue come June, and ensure that your property purchase is successful and stress free.