Repatriation of funds increases as ‘expat exodus’ continues

The last year has seen what currency broker FC Exchange describes as ‘an exodus of expats’ leaving their Eurozone homes to return to the UK – but, since January 2009, the company has seen a 60% increase on the previous six months of clients repatriating their funds from selling their property abroad.

FC Exchange says that the well-documented rollercoaster ride sterling has taken over the last year has forced people to lose out on thousands of pounds through exchange rates, particularly with the euro. As the value of their pensions and savings dwindles, many Brits have put their properties on the market, as they are unable to afford to live abroad. However, it is only recently that people offloading their overseas properties have started to sell them, as global property markets have started to rise.

via Repatriation of funds increases as ‘expat exodus’ continues.