sunseeker123

Seen a lots of discussions of moving to Spain recently. When your GBP is 1.3-1.4 Euros, it makes sense. However, with every sliding GBP (It had been near 1Euro before), will you think hard?

Fred James

Most people coped OK when it was near parity a few years ago. As far as moving goes, property prices are still very much cheaper than they were then.

Although the GBP and the EURO are suffering compared to the USD, there is no reason to expect the rate to drop to parity - it's just as likely that the Euro will crash.

Garbatellamike

With the release of the latest figures on the German economy (which is the pretty much the only functional economy in the EZ) it is not just as likely that the Euro will crash it is much more likely in the short-medium term.

Moses2013

Agree and if people have the funds and know what to expect, what would it change. People earning Euros also move to other Euro countries. Of course now is a great time to exchange and might even stay that way, or get even better. People who want to move, will move.

Dick Dasterdly

If GBP slips to parity with the Euro I will eat my hat.

It could also mean that Corbyn has been elected P.M.

bobd22

It certainly makes a huge difference when the £ is near parity. Although as Fred says people coped yes they did but many did come back and had the housing market not collapsed many more would have done. You certainly didn't see as many Brits socialising etc at that level of course many other European expats were as they use the Euro. My worst ever exchange in that period to pay a mortgage although the £ was slightly above parity I got I think 96/7 centimos Per £. Nothing I could do as it was a regular exchange set up pre slump, however at that point having bought a year or so earlier when the rate was 1.39 I was very worried. However rode the ride out and saw it go back to 1.43 where it was when we decided to buy. Personally I find it not too bad so long as not below 1.20. As for predictions not mine but a bit of reading, many think Euro will suffer more than the pound? Of course though we do have the outcome of or worry over the referendum and as has as been mentioned the Corbyn worry?

Leper

Let's forget hypothetical situations and concentrate on reality. Stupid question to say the least.

Fredbargate

It got close 4+ years ago but fortunately I was moving out of Spain into a sterling area.

sunseeker123

History always repeats itself. Lets don't forget just before the crash, waves of Brits moved to Coast Blanca (retired to or other reasons). Many of them had to return to UK. The exchange rate of GBP and Euro was one of the major reasons.

Moses2013

True and especially the people with no savings. I still don't think it would stop people moving though. The pound certainly won't remain strong for years, otherwise the UK couldn't compete and unemployment would skyrocket.

bobd22

No surprises there realy who can afford to lose 1/3 of their income. However not sure that history will always repeat itself? The current fall is no where similar to what happened in 2008 neither is the state of the UK economy. It wasn't by chance it fell back then it was part of the plan to make UK more competitive. As Leper says little point trying to guess hypothetical situations. It could be back to 1.40 by Spring who knows?

jogger

We wouldn't be able to sustain a massive drop but then again not many would however we are allowing for events like parity. But hey we will have a place here and in Spain so if the proverbial does hit the fan we should be ok.

sunseeker123

For Brits already in Spain, it may be hypothetical situations. For people planing to move, they will face the exchange rate reality (though not necessarily 1:1).

amideislas

Anything could happen in the future. Especially if an unstable or overly idealistic government is elected. The pound could drop below parity causing unsustainable inflation in the UK, or could inflate wildly, causing equally damaging deflation, both scenarios could encourage an exodus (of money at least). Then the option of becoming another EU dependent would start to look a lot more attractive, as was the case with most other EU members. And in that case, moving to Spain would be more like moving from Bristol to Brighton.

Of course, we could also be hit by an asteroid.

Garbatellamike

Spot on Ami - my post above was predicated on the assumption that John McDonnell will never become Chancellor - if he did...............