Foreign Exchange Specialists can save you thousands when buying property abroad
Are you searching for a foreign currency exchange specialist and planning to do an international money transfers? Many of the foreign exchange companies are able to offer better currency conversion rates than high street banks mainly due to lower overheads and due to the large amounts of currency they buy and sell. Foreign Exchange companies also have specialists in currency exchange fluctuations and have more time to listen to what you want to achieve offering you sound financial advise. But not all foreign exchange companies are reputable, Compare money transfer have done due diligence on all companies listed all are FSA regulated and HM Revenue and Customs regulated under Anti Money Laundering Regulations and the providers provide an excellent service committed to your needs.
Foreign currency exchange services usually offer unbeatable value for money, particularly when compared to your bank’s exchange rates and usually offer a free service to transfer your money on amounts over £5000 making it a cost effective alternative to high street brokers. If you need to make an overseas money transfer payment for your property abroad, choose a FX provider that will offer to fix your exchange rates for your large deposits, interim and final payments. If your money transfer is over a certain size, some FX brokers can fix rates to avoid any potential risks with currency fluctuations.
In addition to saving your lump sum investment from erosion with carefully researched and thought out money transfers, you may also be make to savings in other areas of the property transaction process. Do your research and consider all the legal and administrative fees involved in the purchase process before you commit to it. Your notary will be able to advise you about which costs, fees and taxes will be incurred by you, plus protect yourself and your money by asking if the money is paid direct to the notary saving you further transfer costs and gives you peace of mind. You should also ensure that you are fully aware of the legal process involved in order to be prepared for all the costs ahead of you. Always cater for additional costs when checking your finances and making sure that your investment into property abroad remains profitable.
When you make an offer to purchase to the vendor, developer or estate agent involved, include the value of your offer, the amount of the deposit you are prepared to pay and when you will be making the overseas transfer – this can make it very clear to the vendor how serious you are about proceeding and how exactly you are prepared to proceed. When doing this, always keep in mind the cost of exchange rates for your money transfer and any other additional/third party fees. Factor everything in when calculating your offer price so that the final purchase amount does not go over that which you can afford.