Large currency transfers in and out of a foreign country and legal jurisdiction requires help from experienced professionals. Currency experts have a wealth of experience helping people who are buying and selling their property overseas to ensure their international money transfers are always on time and do not incur any hefty UK bank charges.
Often people buying property overseas do not understand the importance of getting professional help with the international money transfers for their property
Often, in the excitement of finding their dream home abroad people forget that the decision on how to send the money to pay for the property is as important as the decision of what property to buy and where.
Usually, when buying a property overseas you will be required to pay a deposit, with the balance payable on completion, usually a few months later. Buying off - plan may involve stage payments with a final one-off payment on completion
A currency expert will help you to devise a currency strategy to mitigate currency market volatility risks during this period,helping to protect against potentially losing thousands to unfavourable currency market movements.
After you have completed your property purchase you may need to make ongoing maintenance, tax or service payments on your overseas property,so your currency expert will be able to lock in an exchange rate for up to two years on these payments, ensuring that there are no sudden increases in costs due to unfavourable movements in the currency market.
To ensure that you do not lose thousands of pounds sterling when you sell your overseas property it is important to seek the advice of a currency specialist when you receive payment from the proceeds of the sale of your property because there is usually an interval between agreeing a sale and receiving payment, during this period of time unfavourable currency market movements could result in you potentially receiving thousands of pounds less than you expected.
A currency specialist will be able to lock in the exchange rate so that you can plan ahead because you will know exactly how much you will receive in pounds sterling.