Tis the season to save money!
Decided to kick start your search for an overseas property in the New Year? If so, you could help yourself and your bank account – likely to be suffering after the expense of Christmas – by planning some things now, including currency exchange.
Anyone planning a viewing trip abroad in the first few months of 2015 should ideally be organising many of the details now. You can book cheaper flights and accommodation, decide and arrange which estate agents to see before others get there before you, and you still have time to create a strategy for transferring the funds you’ll need for your property purchase – a move that could save you money and time.
It’s not uncommon for property-hunters to find and secure a property on their first viewing trip, so it makes sense to have money ready to send to cover the deposit before your leave the UK. For this, your first point of contact is not your bank but a currency exchange specialist, like Smart Currency Exchange. A currency specialist will always offer you better exchange rates for a euro, dollar or other foreign currency transfer than typical high street banks, but they will also, if you wish, discuss clever ways to protect your money against exchange rate fluctuations.
The New Year can be an uncertain time for currency markets. For example, at the end of December 2012, the exchange rate was £1/€1.23 but by the first week of January 2013 Sterling had begun losing value so that by the start of February it had fallen to £1/€1.15. Fast forward to New Year 2014 though and the opposite happened – at the end of December 2013, the rate was £1/€1.20 but as January got underway Sterling began its recovery so that by mid-February it was £1/€1.22 and, bar a momentary fall in March, continued to gain against the euro throughout the year. No-one knows for sure what New Year 2015 will bring, but speaking to Smart Currency Exchange will ensure you make most informed decision about sending currency abroad.
So, if you’re planning to purchase a property in Europe, the USA or any other overseas destination early in the New Year, contact Smart Currency Exchange today by asking for a call back. Hearing how they could save you time and money when those Christmas bills are mounting will be refreshing!