Get the best rates when investing in UK property from overseas
We share a different kind of case study this week: with this spotlight on Mark Shaw, based in South Africa, who used Smart Currency Exchange to maximise his income when purchasing a buy-to-let property in the UK, and repatriating his rental income.
Mark and his wife had originally planned to move to Ireland, but then decided to put their plans on hold after he had transferred his funds there. He then decided that, given the weakness of both the euro and his own home currency, the South African rand, it would be a good idea to make a sterling-based investment – hitting upon the idea of buying a rental property in Liverpool.
By using Smart Currency Exchange to make the transfer, Mark was able to achieve better exchange rates and experience a faster and more personal service. He now plans to use the currency specialist to transfer his expected rental income back to South Africa.
“All in all, I transferred around £50,000 to the UK from Ireland”, said Mark. “Smart Currency Exchange gives such good rates and provides a very professional service, always doing exactly what they say they will. I just have to send an email to my account manager there and they deal with my request.”
His buy-to-let properties are now managed by a local agency, and he plans to generate regular income to send back to South Africa. “I envisage sending between £1,000 and £2,000-worth of rand back to South Africa each month – leaving some money in the UK for maintenance and costs. I’m arranging it so I can make these regular transfers through Smart Currency Exchange.”
If you want to find out more about getting the most from your currency transfers, give me a call today and I can discuss your options with you.