Costa del Sol Property Blog

In a recent article in thisismoney.co.uk it has been reported that British lenders are allowing property owners to re-mortgage their UK properties to fund property purchases abroad. To date this has been common amongst Scandinavia clients, but it is a positive sign to see British lenders doing the same. But the article is also a bit of a PR piece, I have tried to only include the salient points below. For the full article you can find a link at the bottom.

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Just a quick update on the Forex reports. As this information is being updated daily, I have decided to start posting the reports on a separate blog.

That way those looking at currency exchanges can go to that blog while those looking at property related articles can stay here So for market reports go to Currency Market Reports

Regards Andrew Belles

Dollar makes gains on safe haven status
Sterling pushes upwards against the euro
Single currency under pressure against majors—ECB expected to cut rate
Commodity currencies post large gains
G20 meeting in London

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• Euro weakens on ECB members comments & weak economic data
• Sterling makes gains against majors on positive UK data
• Equity markets make losses over 3% but dollar still weakens
• US Government moves to overhaul GM, Chrysler dragging the dollar down
• Ireland’s economy losses coveted AAA rating

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• Sterling trades lower against the Euro
• Survey shows people want end to the public spending boom in UK
• The European Central Bank likely to cut interest rates next week
• The euro remained inside its recent tight ranges against the USD
• The “city” prepares for G20 summit next week

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• Volatile day in currency markets blamed on Geithner comments
• Sterling sees losses posted against both dollar and euro
• Dollar sees huge swings on confusion of global reserve currency status
• Euro pulls back some losses despite weak economic data from Germany
• IMF rescues Romania with €20bn and Serbia handed €4bn.

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• Sterling jumps higher in the foreign exchange markets
• UK inflation data proves stronger than expected
• US dollar recovers slightly as rally in equity markets halts
• Euro under pressure—possible interest rate cut by ECB next month
• Czech Republic joins East Europe’s falling dominoes

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• US Treasury Secretary details proposals to deal with toxic assets

• Stock markets soar as risk sentiment retracts

• Yen and dollar sold off across the board

• Sterling sees gain on euro and US dollar

• New Zealand and Australian dollars continue to make gains

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• Risk appetite sees euro remain strong against majors

• Cable breaks back over $1.46 as the greenback is sold off

• US plan to remove banks toxic assets from their books weighs on dollar

• Aussie and New Zealand dollars gain as commodities rally

• Norwegian Krone takes advantage of higher oil and risk appetite rise

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• Sterling remains stronger against a weaker USD
• Britain is already a long way through the recession—BoE economist
• Germany’s economic slump gains momentum
• Total US job claims soared to a fresh record high near 5.5 million
• UK Public sector borrowing, higher at 9.0B

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• Dollar sold of after surprise Fed move to aggressively buy Treasury’s
• Euro hits nine week high against the dollar as risk sentiment weakens
• Sterling rides dollar bashing wave and breaks back through $1.40
• UK—pound hits seven week low against the euro at 1.0551
• Norwegian Krone—is this the new safe haven currency

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In a further attempt to offer the most information possible for those looking at buying a property in Spain, I have been in contact with Voltrex, a foreign exchange company, who have been kind enough to allow me to post their market reports. And as an FSA regulated company we can be confident in the standards of service. So please find below some information supplied by the company and an email address for those seeking their services.

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