How to beat the exchange rate

17th November 2008

The sad state of the pound against the euro is currently discouraging many English property hunters from buying their dream home in France.  A fairly depressing situation for all of us!

There is, however, a way round the vagaries of the exchange rate.  If both buyer and seller are English and if the sellers want to be paid in sterling, then a sale can take place in sterling between two English banks, with confirmation of the transaction being sent to the notaire in France.  The only euro transaction will be the notaire's fees.

With this in mind, the owners of this beautifully renovated village house, currently on the market at 165 000 euros, are offering it at a sterling price of 130 000 pounds.

It has two bedrooms (with the possibility to create a third), two bathrooms, sitting room, fitted kitchen and dining room (shown in the photograph) which opens onto a pretty terrace and garden.

It's situated in the village of Villepinte, on the Canal du Midi, between Carcassonne and Castelnaudary, within easy reach of both Carcassonne and Toulouse airports.

Sterling transactions may well provide a solution for people who now feel that they must put their plans to move to France on hold until the pound becomes stronger.

Comments

[Sam Mooney]

Is this newish? I remember asking a notaire about 7 years ago if this was possible and he said no. Didn't make any sense to me at the time but I just shrugged and thought "oh well, it's France".

It's a brilliant solution.

Cheers,
Sam

[Kay]

Very interesting. I always thought this couldn't be done too.