Expat Currency News

Latest 10 news items tagged Currency

25 Aug at 6 PM 2016

Brexit fallout sees surge in expat buyers as UK property prices stall

Banks and building societies are seeing an increase in mortgage enquiries from UK expat overseas due to stalling UK property prices and the decrease in the value of sterling. The Bank of England’s recent interest rate cut, sterling’s plunge and the post-Brexit stalling of the UK housing market are tempting British expats living and working overseas to cash in on a bargain. The London property market is most affected at present, with the trend beginning to spread to desirable locations in the rest of the country. Professionals...
5 Aug at 6 PM 2016

UK rate cut heaps more pain on retired expats in Europe

Thursday’s Bank of England rate cut to 0.25 per cent is yet another blow for retired expats in EU member states. Following the continuing impact on currency exchange rates post-Brexit, the Bank of England’s decision to cut base rates to 0.25 per cent is a further blow to retired British pensioners living in Europe. Most have endured years of low returns and are now faced with significant shortfalls in their monthly budgets. Financial firms are describing the cut as a painful disaster which will hit at least a million retired...
3 Aug at 6 PM 2016

Oz expats returning home face property purchase problems

Post-Brexit blues and other European negatives are encouraging Aussie expats to go home, but increased property purchase red tape is blighting many plans. Traditionally, Australian expats working for companies in the UK and Europe are most likely to return home permanently during the last quarter of the year. Upheaval in the UK, Turkey’s instability and terrorist attacks in France have all combined to make thoughts of home irresistible, but Australian property enquiries have declined rather than accelerated. Brokers working for...
22 Jul at 6 PM 2016

Brexit puts a damper on Britons retirement plans

Brexit’s shock result has all but wrecked the retirement plans of many Brits due to freedom of movement insecurity and possible financial planning chaos. The biggest question mark threatening the retirement plans of a fair proportion of older Brits is the ability to settle legally in one of the many European expat destinations. Although, just a month after the referendum took place, there seems to be a slight easing of doom and gloom as regards freedom of movement, the risk of losing everything is still there. Even more of a risk...
22 Jul at 6 PM 2016

Post Brexit plummeting pound spurs surge in expat mortgage demands

Mortgage enquiries from overseas buyers as well as UK expats living overseas have surged since the Brexit result triggered a fall in sterling. Prospective buyers are emerging from Europe, the Middle East and the Far East, with the renewed interest in purchasing UK property down to five key Brexit-related issues. UK property has always been a popular form of investment due to the fundamental strength of the market, and is considered a relatively safe haven in uncertain times. The 50 per cent upswing in demand for UK mortgages is...
21 Jul at 6 PM 2016

Dreaded FATCA finally in full implementation

Since July 1, all foreign financial firms dealing with US expats overseas will face massive penalties for failing to annually disclose their clients’ accounts and financial affairs. The introduction of the swingeing system of fines was the final stage of FATCA’s implementation worldwide, only delayed due to the need to update US government software as well as foreign firms’ client identification programmes. In spite of legal and political challenges against its implementation, there was never any real doubt that FATCA would...
11 Jul at 6 PM 2016

Brexit fears disregarded by Brits still heading for France

In spite of the uncertainty of their future in France, would-be UK expats and those recently arrived are not about to change their minds as regards their preferred country of residence. Whilst expats already living across the Channel are having problems digesting the possible future effects of Brexit, many who’ve already made the decision to leave the UK are sticking to their guns and changing their plans to suit the circumstances. Notwithstanding the fall in sterling, tearing up their long-held dreams is definitely not an option....
28 Jun at 6 PM 2016

Will Brexit kill the Spanish property market

Recent good news that the Spanish property market is finally escaping years in the doldrums has been overturned by Brexit and the slump in sterling. Although a glimmer of hope for long-term British expats on the Costas was given yesterday by the Spanish prime minister, the long-term projections as to Brexit’s effect on the property market, tourism in general and expats’ right to remain are far less than optimistic. Up until the referendum, foreign buyers, mostly from the UK, were queuing up to grab their own slice of Spanish sun,...
24 Jun at 6 PM 2016

Brit expats in Spain shock horror reaction to Brexit win, pound to euro exchange rate plummets

UK expats living and retiring in Spain are in a state of shock as their worst fears about Brexit are confirmed. Brits living the good life in Spain woke this morning to their worst nightmare – the decision of a majority of eligible referendum voters to leave the UK. Immediately, <a href="http://www.exchangerates.org.uk/news/15681/gbp-eur-pound-euro-exchange-rate-news-and-outlook-.html">the pound to euro exchange rate plummeted</a> and world stock markets braced themselves for a replay of the financial crash of...
22 Jun at 6 PM 2016

Hong Kong now worlds most expensive expat city

One of the most important and longest running cost of living surveys has declared Hong Kong to be the most expensive cities in the world for expats. The 22nd Mercers survey places the Asian expat hotspot at the top of its list of 209 cities as regards cost of living. The aim of the annual study is to help major employers decide on relocation packages, taking into account the average prices of over 200 items from a beer or a coffee to accommodation costs. Hong Kong’s elevation to the top of the tree isn’t a surprise, as the...