 |
| Secure the best available exchange rates |
Foreign currency issues can have a significant
impact on the cost of your purchase.
In securing property abroad, purchasers are likely
to spend more time searching for the right property via their
estate agent and researching the best method of financing their
purchase rather than considering the financial implications of
transferring money overseas. The transmission of funds for property
acquisitions is often done at the last minute. This leaves the
buyer exposed to the prevailing exchange rate and can significantly
alter the eventual total cost of the property.
When buying overseas it is essential to cover all
aspects of the currency element of the transaction. For example,
when considering the Euro cost of a house in Spain there is no
fixed exchange rate from which to calculate the eventual cost
in sterling. This is because the foreign exchange rate changes
many times every day. Depending on when you purchased a €500,000
home in the past twelve months it might have cost anywhere between £300,000
and £330,000.
A foreign currency specialist can offer you direct
access to the information you need in order to secure the best available
exchange rates. This allows you to make significant savings on your
overseas purchase.
Foreign Exchange for Business
Back to top
|
