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Posted March 13th, 2012 by Charles Purdy

The real cost of an overseas property…

Can you guess how much this idyllic French property 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 local price of their property.

The current asking price of this three-bedroom converted barn near Verteillac in the Dordogne, available through Beaux Villages http://www.beauxvillages.co.uk, is €320,000. But we thought we’d see how the actual price in Sterling to British buyers fluctuated over the space of just one month thanks to exchange rate movements. The result was by a hefty £5,292, and think how many fantastic meals out you could have with that in the Dordogne…

Date Smart €/£ rate Property price
March 5 1.1933 £268,164
Feb 27 1.1754 £272,248
Feb 20 1.1907 £268,749
Feb 5 1.1987 £266,956

Using Smart Currency Exchange to make all your currency transfers is the first step to making your pounds go further when buying abroad – thanks to their bank-beating exchange rates. If you speak to us today, we’ll reveal how a forward contract could help secure the cost of your overseas home in pounds, before you have to pay for it in a foreign currency.

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Posted March 13th, 2012 by Charles Purdy

Tracking the pound against key currencies

You’ve heard of a Greek tragedy but what about a Greek saga. The Greek bailout has gone on for many months if not years and finally we seem to be closing in on the finishing line. Clearly the euro has been undermined by the Greek debt problems and we have seen it weaken to the  Continue Reading…

Posted March 8th, 2012 by Charles Purdy

Save on currency transfers – large and small

Currency specialists regularly save clients thousands, often tens of thousands, of pounds when transferring funds for the purposes of selling or buying property abroad. However, given it’s easy and costs nothing to open a no-obligation account with a currency specialist they shouldn’t be overlooked for making smaller payments. Whether it’s worth opening an account comes  Continue Reading…

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