Euro to Sterling

[maryanne40]

My partner who lives in the UK has an investment property there with a mortgage on it. As the euro is so good at the moment and we have a little of it to spare we have decided to pay about 6 or 7 thousand euro off the sterling mortgage. Does any one know which bank would give me the best exchange rate? Also is this the best time to do it or could the euro make some more gains against sterling over the next few weeks? We want to do this before May when, under the terms of his mortgage a higher interest rate kicks in.

 

[GDE]

Re: Euor to Sterling

You need to use a Currency Exchange Company. HIFX someone like that

 

[maryanne40]

Thanks GDE.

And any thoughts on the euros prospects over the next few weeks? I know the amount I want to exchange is peanuts in the banks terms but not to me!!

 

[GDE]

Im not a currency expert, but if the currency was in my hands I would hold off for as long as possible. Rising energy prices, heavy consumer debt, a declining housing market . expected lower interest rates to combat the decline in housing market, I think sterling is in for a lot more hurt. If you have a lot of people in the same mind as me, then the sheep factor comes into play also with everyone suddenly disposing of sterling.