With open borders and ease of travel, more and more people are investing in the overseas property market . Our specialists are on-hand with a choice of products to help ensure your investment is not ruined by unexpected currency fluctuations. For those of you with an overseas mortgage, we can also fix a rate for up to 2 years in advance.
Buying propery abroad is a large investment which can end up costing more than you expect through negative exchange rate movements. No1 Currency can protect you from currency fluctuations, guaranteeing you a great deal!
Exchange rates can change dramatically from the time you agree to buy to the time you actually pay for your property abroad, resulting in a potential increase in the total cost.
| Property price at date of Purchase | Property price at date of Payment | |
|---|---|---|
| Purchase value (€) | €150,000 | €150,000 |
| Euro rate (€) | €1.407 | €1.317 |
| Transaction Charge | £0 | £0 |
| Total Cost | £106,609 | £113,895 |
By not seeking advice and planning the transfer you could end up paying £7,286 more.
Example taken live over a 3 week period between 10/12/2007 & 02/01/2008No1 Currency have a choice of products that can help protect you from currency fluctuations.
The case studies below help explain the whole process of buying property abroad in more detail and illustrate the benefits gained from using a foreign exchange specialist:
To speak to one of our currency specialists select your preferred route below:
As soon as we started planning the move last March, I began to consider the implications. The best financial advice I can offer anyone is to look at the market and remember that you do have an alternative to the high street banks.
Overall, No1 Currency saved me a significant amount of money - especially in comparison with the high street banks - in terms of charges and foreign exchange rates.
Steve Smyth