Sterling Lump Sum

[plantrepair]

Hi There,
My parents have a large lump sum in sterling in a UK bank account following the sale of a property. They want to bring it back to Ireland but don't need it immediately but will want it within 2 years.

I know it's a really tough question and will rely a lot on Brexit negotiations/outcome but any advice on what to do here. Leave it for a while, slowly drip feed it or take it now before a potential bigger drop in value.

Thanks

 

[john luc]

If anyone knows the answer to where currency is actually going to be in the next 2 years will ya tell me so as I can get rich

 

[noproblem]

Apart from Brexit, why do they want to bring it to Ireland?

 

[Brendan Burgess]

will want it within 2 years.

This really is the key point.

If they need to spend it in euro, then they should remove the exchange risk and convert it to euro immediately.

This post will tell you how:

https://www.askaboutmoney.com/threa...-in-euro-to-and-from-other-currencies.185972/

Brendan

 

[plantrepair]

Thanks for prompt replies. Will be for a house purchase which adds in the property market here and where it's going to the equation. Will be outside Dublin in the southeast. They are renting in the meantime after moving back from UK and happy to do so until they find or build what they want.

 

[WaterWater]

I see that Sterling is at a two and a half year high against the Euro this week. Did your parents hold it as Sterling or convert to Euro?