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Posted December 29th, 2016 by Charles Purdy

How to keep your overseas property dream on track in 2017


As we wave goodbye to a somewhat eventful 2016, it’s time to look ahead to what 2017 could have in store for the currency market and your plans to buy a property overseas.

You won’t be surprised to hear that Brexit will continue to dominate sentiment towards the pound over the coming 12 months. Sterling is likely to face a rollercoaster ride next year as policymakers start the process of leaving the EU. If Article 50 is invoked towards the end of the first quarter of 2017 – as promised by the PM – the value of the pound is likely to plummet.

Election season is on the radar in the Eurozone. France is gearing up for its presidential election in May and a victory for Marine Le Pen of the National Front is no longer seen as unthinkable. The Dutch have an election in March which could have similar results, as the far-right anti-EU Geert Wilders shoots up the polls. If the anti-establishment vote prevails on the continent the euro will come under significant downward pressure.

As the rest of the world attempts to digest Donald Trump’s shock victory, the US dollar has actually benefitted from a ‘Trump Boom’. Time will tell if this trend is set to continue when the ‘chosen one’ is sworn in as President in January.

If you decide to buy a property overseas in 2017, we can help design a currency strategy that will give you peace of mind by reducing risk, and by saving you money. We have a number of tools on offer when booking your transfer that could help protect your funds and minimise your risks.

Spot Contract

If you need to make your transfer now, you can benefit from exchanging your currency at the live exchange rate at the time that you contact us. Booking this rate now means you are protected from further exchange rate fluctuations but you do have to pay up front. You can discuss your options with your trader, and monitor the exchange rates beforehand.

Forward Contract

If your transfer is planned for some date in the future you can secure your exchange rate now to protect yourself from any adverse fluctuations after the result has been announced. This also allows you to plan your budget with price certainty, as you will know exactly what exchange rate you will receive on your future transfers.

Regular Payments Plan

If you need to send funds overseas on an ongoing basis setting up a Regular Payments Plan can save you both time and money on every transfer. You can also lock in the exchange rate on these payments to ensure that you always know how much you are sending and receiving every time.

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Posted December 15th, 2016 by Charles Purdy

Airport currency not the only rip-off

  A front page report in The Times today says passengers landing at Britain’s major airports are being ripped off when exchanging their currency in the terminal. Rent hikes and exclusivity deals with foreign exchange operators at Heathrow and Gatwick are said to blame for exchange rates that are – on average – 13 percent  Continue Reading…

Posted December 1st, 2016 by Charles Purdy

Four simple things to know about currency exchange

If you are new to making big international transactions – that would be nearly all of us – the world of currency can seem very strange at first. A lot of numbers flashing across screens, complicated-sounding jargon and a lot of graphs! But at heart it is perfectly simple. Trading currencies If you have pounds  Continue Reading…

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