Hi Gerlos/currency

Hi There

I bought E9000, i advance and they said the rest of my cash for a new build house in Narbonne would be E1.39 for my £1. Can I get out of this contract? There is a 10% difference today.

Appreciate your help

Thanks Carol

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Geros ? me/ I come to all sort of names Geros Gerbil

ignoramus idiot snob

am seldom perturbed

just weary..

No where to go to play today as no sun

What is your home currency

where domiciled

future hoilday plans

Geros

Garlic

Gerbil

Gerlis am your obedient if incompetent servant

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sorry got your name wrong Gerlis

i am in u.k and my currency is the English pound

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Hmm

If the contract is in Euros, then it is down to you to find those Euros ?

Peter

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Please all forget the Euros QUESTION, OBVIOUSLY nobody has any idea what they are talking about.

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Just seen this Caran

The short and unhelpful answer is that it depends on the contract, if signed it%26#39;s unlikely you can now negotiate. Not for TA to advise, need pro look at contract.

If buying in Euros whilst located in U.K. you have three options.

1, You can go with the market (in effect take a gamble) and hope the rate will be more favourable when changing your Sterling to

Euros when time comes to stump up the cash. You can win or lose.

2, You agree a set exchange rate figure as would be agreed under this contract, in your case with the developer.

3, Buy the Euros yourself immediately and hold them in a euro account, same effect as 2. but compare cash rate with contract rate carefully first.

Please note: A variant of option 2, in many cases better option:

I would recommend exploring this, instead of opening a euro account or contracting with the developer. You should get a forward exchange contract quote from your bank.

The rate negotiated with one of their city dealers. These rates are negotiable and move on the minite.

This has the same effect as 2. But gives you two forward quotes to compare before committing to a rate. In many cases it will save you money unless the developer comes up with %26#39;a carrot%26#39; to tie you into their contract.

Forward exchange contracting through international banks is sound practice when dealing in any currency - offers insurance against big rate swings, usually at a fair rate - also keeps you in control.

I use them all the time for USD, YEN %26amp; EUR. After taking a few currency %26#39;hits%26#39;, it%26#39;s proved very worthwhile.

Hope this helps.

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Dear JC Barnes

Thankyou so much for all your information. I have just found your message which is very intresting .

Carol

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