Maximise your money

When you’ve found that perfect property and it comes to transferring money for purchasing it, or you are the vendor and about to sell, using a currency specialist to transfer your money into or out of euros, is advisable. We know what you may be thinking, it’s too much hassle to sort out, I’ll just use my bank. But, before you head down to your local branch or log in online, take a moment to check their exchange rates and associated costs for international money transfers. We think you will be surprised by the charges they impose. Opting for a currency specialist can help reduce costs, and the process of using their services is generally straightforward and hassle-free.

Simply put, when using a currency specialist you transfer your funds to your client account in either pounds/dollars etc. The currency specialist then purchases the necessary amount of euros and transfers them to the vendor or their lawyer as per your instructions. This process eliminates the need for you to visit a bank or handle physical cash. It’s a convenient and straightforward way to handle currency transactions.

The process is straightforward, but keeping track of currency fluctuations is not so easy. The rates you see while planning your budget may differ from the rates at the time when it comes to buying or offering on a property, which can make things quite stressful. For example, a property that costs €200,000 could vary from £166,500 to £182,000 depending on how strong or weak the pound is – quite a variation. It’s important to keep track of the currency rates and consider potential variations to ensure you have enough cash to complete the process, but this can be a bit of a headache or even overwhelming if this is the first time you have had to deal with changing currency and so using a currency specialist really does take the weight off your shoulders.

Setting up a Forward Contract with your currency specialist is the easiest way to protect your budget. By locking in an exchange rate for a specific period, typically up to a year, you can shield yourself from any potential fluctuations in currency exchange rates. This helps you plan and budget more effectively without worrying about sudden changes impacting your finances.