If you’re taking the plunge and investing in an overseas property you’ll want to make your funds stretch as far as possible. How you choose to exchange the currency required for your purchase can make a big difference to your budget.
Buying a property in your home country is stressful enough, but throwing language barriers, unfamiliar regulations and exchange rate fluctuations into the mix can really add to the headaches involved. For one thing, exchange rates are always moving and in the months between making an offer on a property and completing the purchase, a rate could shift by several percent. It is posssible to lock in exchange rates when they are in your favour or target an exchange rate in the future if you anticipate rates will move in your favour. It could literally save you thousands of pounds using the services of a top currency exchange company. Our currency exchange partners, TorFX, are currency experts. They’ll assign you a dedicated account manager to help you through the process.
TorFx offer:
No transfer fees – Rate improver guarantee, they’ll match or beat any valid quote – Excellent exchange rates – Multi-award-winning service (Moneyfacts Consumer International Money Transfer Provider of the Year 2016 – 2021) – Specialist solutions, like fixing or targeting an exchange rate, buying currency in advance and setting rate alerts – Personal support and insights from a dedicated accoount manager – 24/7 transfers online or by app
Here’s an example of how having a currency exchange expert in your corner can really help and save you money.
THE CHALLENGE Anna’s plans to buy a holiday home in Alicante had been delayed several times due to Brexit uncertainty and the onset of the coronavirus pandemic. By the time she was finally ready to move forward in 2021 she had seen some pretty dramatic movements in the GBP/EUR exchange rate and was concerned about the impact of further fluctuations on her budget.
SOLUTION Anna got in touch with TorFX to talk about her options and we helped her open an account the same day. After chatting to her Account Manager about her timescales Anna decided to pay a 10% deposit to secure the exchange rate at the beginning of April. Just one month later, when Anna was ready to transfer the funds to pay for her new property, the GBP/EUR rate had dropped by 3 cents.
IMPACT Fixing the rate when it was high helped Anna achieve thousands more for her transfer. She now uses our online service and app to transfer money to Spain quickly and conveniently whenever she needs to pay for utilities or cover property maintenance costs.
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Torfx https://www.torfx.com/affiliate/quote/?afflno=0302110000391682
