What are the solutions?
There are several possible actions you could take:
Do nothing!
The most common action from overseas property buyers sadly often costs them money. If the exchange rate for £ Sterling against the local currency improves, people are happy. If it worsens, then they overstretch their budget, often by £ooo's. The value of the Euro can and does fluctuate on a daily basis. This volatility will ultimately affect the final price that you pay for your overseas property.
Buy the currency now
This will tie up large quantities of your money for long periods. The overseas funds will earn very little interest because Continental interest rates are usually lower than UK rates.
'Forward' buy the currency
You can fix an exchange rate for delivery on an agreed date in the future. Money can be drawn down whenever you want it during the period of the contract or the contract can be extended if, for example, the construction of your property is delayed.
You will need to place a deposit of 10% of the amount you wish to buy, with the balance payable prior to the maturity of the contract.