The Fixer: money transfers

Can I protect myself against currency fluctuations?

Have you been left out of pocket due to poor service or sharp practice? Do you have a money problem that won't go away?

It can seem impossible to get a fair result when you are battling a financial issue alone. But never fear! The AOL Money Fixer is here to help.

Dear Fixer,

I am in the process of selling a property in Spain. I need to change the money from euros into pounds as I want to use it to buy a house here.

I have found a buyer for the Spanish property, but the sale is dragging on a bit and I do not expect it to go through until June or July.

With the European Union (EU) Brexit referendum on June 23, I am worried that I will lose out due to the exchange rate changing and making my euros worth less in pounds.

Is this likely to happen? And is there any way I can protect myself? Thanks in advance for your help.

G Main, Manchester

Dear Ms Main,

The pound has fallen quite sharply against the euro in recent months due to uncertainty about which way the referendum will go.

It has, however, become a little bit stronger in the last few weeks due to greater confidence in the UK voting to stay in the EU.

The polls will continue to have an impact on the exchange rate between the two currencies over the next month or so. But it is the referendum itself that will make the biggest difference.

Mark Thompson at currency broker Global Reach Partners said: "With an 'in' vote, sterling could make big, immediate gains. However, a recent Reuters poll suggested a 7% fall if we exit."

As you may not be able to bring the cash across until after the vote, it may therefore be sensible to use a broker to set up a future contract, which can be used to buy currency at current rates even if you do not yet have the cash to cover the deal.

You could do this for the full amount, which would give you the security of knowing exactly how much you will get but could mean you missing out on a better rate if the nation votes to leave the EU.

Alternatively, you could set up a forward contract for say 50% of the amount so that you are partially protected if the pound rebounds but still stand to gain should it fall further still.

The Fixer

Whatever your financial problem, write to and The AOL Money Fixer will get on the case.

Blunt Brexit Warning From International Monetary Fund's Lagarde