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Brits are still buying property abroad, despite Brexit fears

Published: Wednesday 28 September 2016

Last week’s A Place in the Sun Live! Property show in Birmingham saw impressive attendance of over 6500 would-be property buyers, all looking for vital information on buying their home overseas. As the official exhibition of the A Place in the Sun television show, it brings together key professionals who you can speak with face to face and can help you realise your dreams of buying property abroad, including real estate agents/developers, emigration experts, financial specialists and advisors with a wide range of properties from across the globe.
As you may expect, the first show of this kind to come after June’s Brexit vote gathered considerable interest, with a large number of attendees asking lots of burning questions. The Halo Financial team were among the 130-plus exhibitors at the show there to answer these questions, along with seminars from a panel of experts providing reassurance and guidance about how the Brexit vote affects people buying property overseas and what steps can be taken to stay safe in the current uncertainty.
The exchange rate has been one of the biggest concerns for Brits buying abroad and a key topic of conversation at the event. “A European property priced at €250,000 would have cost you £196,305 in pounds on 19th June 2016, but would have cost you £209,775 just a month later – that’s a difference of £13,470, and could easily have taken the property beyond budget,” explains David Johnson, Director at Halo Financial.
“Knowing how these movements in currency markets affect the price of your property and how you can protect against this risk can save you a considerable amount of money, so it’s really important to get all the information you can and to talk to the professionals who can help you with this as early as possible in the property buying process.”
In addition to currency specialists, experienced journalists, financial and tax advisers, the Foreign & Commonwealth Office and Department of Health were also on hand to offer guidance and provide relevant information about buying abroad and the implications of Brexit.
The general feeling at the show was positive, with attendees demonstrating unfaltering interest in buying a place in the sun, coupled with a strong desire for quality, genuinely helpful information about how Brexit could affect this process.
“Brits are acquisitive when it comes to bricks and mortar and it will take more than this to put them off eyeing property in their favourite country,” comments Andy Bridge of A Place in the Sun.
“We see the lifestyle benefits an overseas property brings, it may be a little more expensive now given the exchange rate but the demand is still there”.

The next A Place in the Sun Live! show will be at the Glasgow SECC on 29th and 30th October.
To find out how you can protect your property and your money when buying abroad, call 020 7350 5470 or visit www.halofinancial.com

About Halo Financial

Halo Financial is a leading UK foreign exchange brokerage, offering a comprehensive range of services to individuals and businesses since its inception in 2005. The business prides itself on offering a flexible and personalised approach for each of its clients, simplifying the seemingly complex foreign exchange market to maximise savings in currency transactions and make money go further.

Halo Financial specialises in managing currency risk by offering hedging strategies and best execution for B2B and B2C clients with vertical expertise in numerous industry sectors such as international trade, financial, education, migration and overseas property.  Staffed by qualified technical analysts, the company is authorised by the Financial Conduct Authority and HM Revenue and Customs.

Halo Financial also received the Gold award of Best Supporting Service at the OPP awards, the Gold Award for Financial Support and Innovation from Re:Locate Magazine and has 5 out 5 star customer gold merchant status rating via independent review website, Feefo.com.