Foreign Currency Exchange

It is strange to find that purchasers of property in Europe are always keen to negotiate a good price on the house of their dreams, but then fail to appreciate that great savings can be made by ensuring that they receive the best exchange rate form Sterling to euros or visa versa. When buying abroad, you’ll usually have to pay a deposit, staged payments and/or the full purchase price. During this process, you’ll be required to convert your British Pounds to the currency of the country you’re buying in.

Since the exchange process is simply one tiny aspect of the entire transaction, many buyers fail to give it the attention it deserves and therefore make a fundamental mistake.

Most buyers understand that the price of currency fluctuates second by second, and they also realise that banks add on a 2-5% profit margin when selling the currency to you!

HOWEVER what many buyers do NOT realise is that there are ways to purchase currency at a much better rate, by buying at the right place and the right time. To save £1,000’s on your currency exchange and transfer charges; call a Currency Exchange Specialist, rather than using your high street bank!

In most instances you will have a set exchange rate in mind when you determine the cost of the property that you want to buy. Generally, buyers find a property, get the current exchange rate and base their decision to buy at the price based on that day’s currency exchange rate. If you’re very lucky, on the day you actually send your money abroad, you may achieve your budgeted rate, or the rate you had in mind.

Why lucky? Many buyers leave all their currency purchases to the last minute and leave themselves at the mercy of whatever the rate is at that time. Exchange rates do fluctuate, much more than people realise, and the art is to time your purchases so that your budgeted exchange rate is achieved. But do you have the time to do this?

That’s where working in tandem with the right currency specialist can be so beneficial. If you tell the specialist what your budgeted rate is and details of the payment schedule, they will have the time (and inclination) to try and achieve the budgeted rate for you.

Get a currency quote today and save money.