I agree, Tony. We retired here knowing how the exchange rate fluctuates, and accepting that risk. We were incredibly lucky as we did most of the really expensive building jobs with 1.5€ per £1. When the £ sank we did cheaper jobs. Now the work is almost finished (there’s always something more to be done) we have an exchange rate similar to a few years ago and we will live through that. If it stays low for years or sinks much further I’d question whether to run the flat in England, my first choice will be to live in France and travel less. It’s a bit like when our sons bought houses and we asked them if they could afford the mortgage if the rates went up to 16%, we keep an eye on the bills and are currently still comfortable, if not as flush as we have been at times in the past, without spending our savings. The UK press blame Brexit for everything, but the exchange rates fluctuate for many reasons beside Brexit and always have done. To be honest, I think the most important thing about retirement is to make the most of opportunities as they arise and not postpone good experiences. If we enjoy life and the balcony doesn’t get repaired, never mind, There are acro-props in the barn.
You say “is there a problem with that?” and I would say there isn’t, but we have a very good pension income. I can understand that many people living abroad may have a relatively smaller income and higher outgoings, and a sustained low exchange rate would be a problem in their case. I would hate it if my choices were dictated by political meanderings and gambling on international markets, and we all feel scared if life threatens to become less affordable.