How near is the near future? That timeline might rule out most investment options due to entry or exit costs. If you're concerned about the bank going bust and all your funds not being covered by the guarantee, open multiple accounts across different banks.
You aren't moving the money in order to make money on it, you are moving it in order to lock in a value in euros (esp. in case of any sterling slide) so as to purchase property with it.
Look at it this way, you are already speculating and taking a risk because you are changing currency!
i would be inclined to leave it in the UK at this stage. You have left it a bit late to think of moving it now.
Why is it late?
Late, not too late. The value of Sterling has dropped ~3.5% Vs Euro in the last 30 days
The money in those accounts is not in GBP. It is mainly USD and also some EUR
But of course, the USD part is speculation
Sorry I thought you were transfering sterling, the time to do that was in the months preceding brexit.Why is it late?
If I am worried about post-Brexit consequences . Why would it be late to transfer the cash from UK to IE?
Cheers
Thanks Saavy99. You were just trying to help. It was a good point re GBP rate timingSorry I thought you were transfering sterling, the time to do that was in the months preceding brexit.
Sterling has lost nearly 1%pa compared to the USD since 1955, we should hold on a little longer before we can spot a trend!
Just open multiple bank accounts at the guarantee level.
Don’t invest the money as you have a clear need for it within less than five years so you can’t take the volatility.
Just fire ahead and buy the house if it makes sense to do so from a practical real world perspective; Trump, noise in the media, Brexit are not relevant. It’s just hot air propagated by journalists and cynical fear mongers.
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