The real cost of an overseas property…

Can you guess how much this pretty property in the Mediterranean costs? The truth is, for too many British people it’s impossible to say. Why? Because fluctuating exchange rates mean many buyers from the UK don’t know until the day they make a currency transfer how many pounds they’ll need to exchange to meet the agreed local price of their property.

Exchange rates can be affected by a range of economic and political factors, things that are out of your control. Just look at the recent weakening of the euro against the pound which is happening on the back of concerns that Greece could leave the Eurozone and that the new French president’s anti-austerity stance could weaken the single currency bloc, at least in the short term. It’s because of things like this that the amount of pounds you would need to transfer to meet the agreed purchase price of a property in the Eurozone will vary constantly with the exchange rate. It’s worth thinking about, given the difference it can make to how much your property could cost you.

The good news is there is a way of eliminating your exposure to fluctuating exchange rates? Using Smart Currency Exchange to make all your currency transfers is the first step to making your pounds go further when buying abroad but having a forward contract with them could help you fix the cost of your overseas home in pounds, before you have to pay for it in a foreign currency. For more information download their free guide by clicking here.

Currency facts to tell down the pub! It’s a touchy but timely subject, but with Greece’s exit from the Eurozone increasingly likely, here’s a brief look at its entry into the single currency. Greece adopted the euro in 2001 when €1 was pegged at 340.75 drachmas, circulating the single currency with other members in early  Continue Reading…

The real cost of an overseas property… Can you guess how much this pretty property on the Greek island of Corfu costs? The truth is, for too many British people it’s impossible to say. Why? Because fluctuating exchange rates mean typical buyers from the UK don’t know until the day they make a currency transfer  Continue Reading…

This month’s happy customer is Ronald Cross, who used Smart when buying his second home in Spain How did you find Smart Currency Exchange? I was very fortunate to stumble across Smart when I was browsing the internet looking to find the best ways of transferring funds abroad. I was in the process of buying  Continue Reading…

The pound’s recent rise gained serious momentum at the start of May, to the point it hit a three-and-a-half year high against the euro and at the time of writing was hovering around £1/€1.25. With no immediate financial crisis in the UK, analysts are predicting this trend to continue throughout the summer, as confidence in  Continue Reading…

Calling all property-buyers! Today’s £/€ exchange rate is more favourable for people transferring pounds than it has been for nearly two years, so if you’ll need to make a euro payment to complete your overseas purchase in the near future, or you’re emigrating, you time to take action is NOW. At the end of April,  Continue Reading…

OGC reader Mags Barrett-Jolly saved money by using a currency exchange specialist when she bought her French renovation project. With the £/€ exchange rate the best it has been for 19 months, we asked her to tell us more… How did you come across Smart? I downloaded a guide from the Overseas Guides Company on  Continue Reading…

Can you guess how much this sunny property in Florida costs? The truth is, for too many British people it’s impossible to say. Why? Because fluctuating exchange rates mean typical buyers from the UK don’t know until the day they make a currency transfer how many pounds they’ll need to exchange to meet the agreed  Continue Reading…

This month’s happy customers are Peter and Deborah Doherty, who own a second home on the pretty Greek island of Corfu How did Smart help you? They helped us transfer pounds to euros and send them to Greece when we bought our second home in Corfu. How did you find Smart? Through The Overseas Guides  Continue Reading…

The arrival of Spring has certainly marked a new lease of life for the pound as the start of April saw a hike in its value against all major currencies. More specifically, its trade weighted index, or “effective exchange rate, hit a 13-month high. Anyone who held out till April before making a £/€ transfer  Continue Reading…