In general, buying a property today with relaxed payment terms is a good idea. No one can be certain how much more the pound will devaluate, but judging by the current state of the economy, and the lack of full capital mobility, we expect short-term fluctuations but medium-term loss in value. So if you buy a property today, with 5-7 years of payment terms, you are fixing the price of a unit in pounds. That unit’s price in pounds will increase significantly over that time period due to inflation.
If your basis is foreign currency, then real estate got much cheaper for you. So now would be the best time to buy with relaxed payment terms. Timing is key, and you should buy your new property before any further price increases. Any further devaluation will benefit you by making your future payments even cheaper in foreign currency terms.Read More