Foreign Currency – How to Slash the Cost of Buying Property Abroad

Buying a home in the sun has never been so popular. The British summer this year was wet, cold and dreary. And flying to many destinations abroad has never been so cheap, convenient and fast. Using a foreign currency exchange broker can help save you a fortune if you do buy abroad.

Foreign Currency Broker – Making the Most of your Investment

There are many ways you can save money buying abroad and utilising a foreign currency broker is one of them. There are around 300,000 Brits who now own a property abroad with homes in Spain, Bulgaria and Portugal being popular property hotspots. And September is a peak time for those looking to buy their home abroad. Many people have had idyllic summer holidays in the sun and their thoughts turn to making their dreams of living in the sun all year round into a reality.

British Homeowners Invest Abroad

It's thought the number of British homeowners who now purchase property abroad has trebled in the last ten years, and it's set to increase – with up to two million Brits with a second home by 2025 according to predictions from a major accountancy firm. But if you don't use a foreign currency exchange broker you could end up spending more then you need to. It's possible to save thousands of pounds on foreign currency by using an exchange broker.

Foreign Currency Experts Cut the Cost

Transferring money abroad can be expensive – and when you're buying a property it can be even pricier transferring money to solicitors abroad. A foreign currency exchange broker will help you ensure you get a good exchange rate, saving you thousands. Foreign currency brokers can offer better exchange rates and deals then the high street bank.

Foreign Currency Broker Saves Thousands

A feature in the Sunday Times revealed that a major marketing consultancy conducted a survey that showed you could save around £6,000 using a foreign currency broker if you were putting a deposit down of €200,000, rather then using a high street bank.

It also advised that fixing your exchange rate before you complete on a property sale could also save you money. Exchange rates fluctuate - often dramatically - and by fixing a rate with a foreign currency broker you could end up saving thousands if the pound weakened in the time between putting in an offer and completing your purchase. By fixing the foreign currency exchange rates, you won't be taking the risk.

Once you're settled abroad, it's also advisable to use the foreign currency broker experts for any cash transfers rather than a bank.

Foreign Currency Exchange Ltd is a commercial currency brokerage based in the UK. We help thousands of clients move hundreds of million pounds across the globe every day. From large businesses to private individuals who wish to send regular payments abroad, you can save money with us by getting better currency exchange rates than with your bank. The Foreign Currency Exchange buys currency at wholesale rates and can help you save money with our fast secure service. For more information contact us now, telephone +44 (0) 20 7989 0000 or email info@fcexchange.co.uk