Overseas Money Transfers
Buying Property Overseas Save Money By Using A Specialist Currency Broker
Saving our overseas property buyers money
We are working with Currency Index Ltd specialist currency dealers who are helping our visitors save money when making international payments abroad. Foreign money transfers can cost you thousands if not planned properly.
Don't be a victim to foreign currency fluctuations
A Spanish property priced at €250,000 would have cost you £177,860 to buy in mid December 2007 but £200,803 by mid April 2008. That’s an increase of £22,943 in only 4 months – and it’s solely due to exchange rate fluctuations!
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The best way to make large money transfers
Many foreign currency dealers allocate clients a dedicated currency dealer who will offer a very personal service specifically tailored to their needs. Your personal currency dealer will be proactive in monitoring overseas currency movements for you. They will explain currency options in plain English and will help you choose the best type of transaction and the best time to trade.
Buying Overseas Property
Money Transfers could cost you thousands if not planned correctly
Buying property abroad your overseas property will almost certainly be priced in a currency different to your own , it’s important to realise that you may need to undertake a foreign exchange transaction to pay for the property – sometimes in several stages – and this will expose you to currency risk. It’s essential to choose the right time to buy currency because if you don’t pick the ideal exchange rate, your property could cost you more than you had expected.
Remove risk when making overseas money transfers
The problem is exasperated by the inherently volatile nature of exchange rates and the rapid speed in which they fluctuate. Indeed to the unwary property buyer it’s not uncommon for the exchange rate to fall dramatically in the period after a deal to buy the property has been agreed and the time to pay and complete has arrived. This could add significantly to the cost of the property and could stretch your budget too far.
Receive advice from currency experts
Whilst the exchange rate could move favourably in the same timeframe, for many overseas property buyers unwilling to speculate on the currency markets, the risk is one they are unwilling to make or afford. Fortunately, restless nights can be avoided by taking the proactive measure of contacting a specialist currency company, such as Currency Solutions, to strategically manage your currency risk.
Overseas Money Transfers Resources
Financial Services Authority The Financial Services Authority is the independent regulator set up by the Government to look after the financial services industry and protect consumers
The Financial Ombudsman Service The Financial Ombudsman Service provides consumers with a free, independent service for resolving disputes with financial firms.
CIPFA - The Chartered Institute of Public Finance and Accountancy The Chartered Institute of Public Finance and Accountancy (CIPFA) is the leading accountancy body for the public services providing education and training.
BBC NEWS | Business | Foreign Exchange SEARCH. BBC News UK Edition. You are in: Business: Foreign Exchange