Following the mini budget announced by UK chancellor Kwasi Kwarteng on Friday 23rd September, the Pound fell to its lowest level against the Dollar since the introduction of decimalisation in 1971.
The weakness of the pound means that if you are earning or holding foreign currency and are looking to transfer to GBP, now could be a good time to take action.
Of course, nobody knows if the pound will drop any further, however this volatility does represent an opportunity to buy GBP if you are holding USD at a rate significantly discounted compared to recent years.
As with most periods of uncertainty, level-headed investors with well positioned, diversified portfolios can use these moments to take advantage of volatility.
A weak Pound also makes UK property prices look far more attractive to people who hold or earn in certain foreign currencies. Our experienced UK Mortgage advisors may be able to arrange an expat Buy to Let mortgage or a foreign national Buy to Let mortgage, subject to your status and lender criteria being met.
If you would like to know more about this or your investments in general, please contact your Skybound Wealth adviser directly.
It’s only natural to be emotionally influenced by negative news stories like the ones we are seeing right now. However, often by reading beyond the headlines, it's possible to identify investment opportunities.
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