Posted February 17th, 2011 by Charles Purdy
Selling Property Abroad – how to save money
It’s quite simple really. When you buy a property in the UK you know exactly how much you will need to pay for the property in sterling and, as such, you can plan accordingly.
If you are buying a property abroad you will be paying in another currency, which means changing your sterling at a specific exchange rate. If you are selling a property abroad you could be changing your currency back into sterling – or even another currency.
Exchange rates move every minute of the day and sometimes the movement can be quite dramatic. When buying abroad you will probably have used the rate on the day that you first thought of buying to calculate exactly what you are paying for your property in sterling.
But if the exchange rate suddenly moves against you, you can find yourself needing a lot more sterling to buy your foreign currency than you had originally calculated to pay for your property. Sadly, this has proved disastrous for a number of people. They have paid over their deposit and discovered too late that, when they come to pay the balance, the cost has risen so dramatically that they have had to back out of the deal – sometimes losing their deposit in the process.
And many expats who have sold their property abroad have lost out too. So there is a very real need for a well thought out plan which will allow you to target exchange rates, focus on timing and secure a favourable exchange rate when available. This will take a lot of the risk of increased costs out of the equation and at the same time reduce your stress levels which – let’s
face it – is always welcome!
There are ways you can avoid the cost of currency rising. Did you know, for instance, that you can ‘forward buy’ and, by doing so, lock your exchange rate at the rate you initially bought at, for use in the future? And you can do this by putting down just a small deposit – it really is worth thinking about isn’t it?
And you can do the same for regular payments, such as pensions and mortgages. The best way to develop a strategy when thinking of sending money overseas is to talk to an expert and discuss all the available options. You will then be able to make an informed decision, thereby minimising your costs…and your stress levels!
Topic: Charles Purdy, Currency exchange, International Currency Exchange, Smart Currency Exchange, Sterling, best currency rates, currency market, currency rates, exchange rates, foreign money exchange, international payment, property abroad
Posted February 3rd, 2011 by Charles Purdy
Moving back to the UK?
No one permanently moves overseas with the intention of returning to their country of origin, yet best laid plans can go awry. The most common reasons for Brits to move back to the UK include the loss of a spouse, homesickness or health matters. In many cases the move is a necessary evil and needs Continue Reading…
Topic: Charles Purdy, Currency exchange, Euro exchange rates, International Currency Exchange, Smart Currency Exchange, best currency rates, buy currency, exchange rates, foreign money exchange, getting money to your destination, transferring money
Posted January 19th, 2011 by Charles Purdy
Buying an Overseas Property?
Seventy five percent of the Smart consumer client base are overseas property buyers – that helps us to know quite a bit about the overseas property purchase process. We’ve been successfully transferring funds for deposits, staged payments, solicitors and other payments related to property purchases since 2004. And, more importantly, we’ve assisted our clients to Continue Reading…
Topic: Currency exchange, International Currency Exchange, Smart Currency Exchange, avoid charges, best currency rates, currency rates, exchange rates, foreign money exchange, international payment
Posted January 13th, 2011 by Charles Purdy
Sterling and Weight Loss Forecasts for 2011
“The western world remains on economic and financial life support” It is that time of year again when we make rash New Year resolutions and I outline my thoughts on sterling’s prospects for 2011 to help you budget and exchange currency at the best time. For some inexplicable reason those outside forces which stop Continue Reading…
Topic: Banks, Charles Purdy, Currency exchange, Euro exchange rates, International Currency Exchange, Smart Currency Exchange, avoid charges, best currency rates, currency market, currency rates, exchange rates, international payment
Posted December 16th, 2010 by Charles Purdy
An option the banks won’t tell you about – a forward contract
It is often thought that the only way to buy currency is by paying for it in full, at the rate given by your high street bank on the day that you go in to buy it. Most buyers have no idea that they have any currency options – they simply buy the currency, let’s Continue Reading…
Topic: Articles, Banks, Charles Purdy, Currency exchange, Euro exchange rates, International Currency Exchange, Smart Currency Exchange, avoid charges, banking, banking system, best currency rates, buy currency, currency market, currency rates, foreign money exchange, getting money to your destination, international payment, overseas bank account, save money
Posted November 25th, 2010 by Charles Purdy
The Hidden Cost of Overseas Cosmetic Surgery
Deciding to go under the knife is one hurdle and the second is coming to grips with the cost. Having cosmetic surgery isn’t a procedure that many people take lightly – not only do you want to be assured that you’ll received the desired outcome, but you also want to get value for the money spent. Stating Continue Reading…
Topic: Articles, Charles Purdy, Currency exchange, Euro exchange rates, International Currency Exchange, Smart Currency Exchange, Sterling, US Dollar exchange rates, avoid charges, best currency rates, currency market, currency rates, exchange rates, foreign money exchange, getting money to your destination, overseas, regular payments
Posted October 13th, 2010 by Charles Purdy
Insuring yourself against Currency Movements
What does insurance give you? It should ensure that you are left no worse off after an event – for example a fire or a theft – than before. It should remove the stress and strain of having to worry both before and after a traumatic event and you should be able to relax in Continue Reading…
Topic: Banks, Currency exchange, Euro exchange rates, Europe, International Currency Exchange, Smart Currency Exchange, avoid charges, bank of england, banking, banking system, before the euro, best currency rates, buy currency, currency market, currency rates, euro zone, exchange rates, foreign money exchange, international payment, overseas bank account, property abroad
Posted August 13th, 2010 by Charles Purdy
Ideal Payment Options for International Currency Exchange
Every foreign money exchange provider has its own set of options that clients can use to exchange their currencies to suit their requirements. However, there are some methods that are safer and more profitable both for the customer and the company that you should make the most of. One option for payment is the spot Continue Reading…
Topic: Charles Purdy, International Currency Exchange, Smart Currency Exchange, currency market, foreign money exchange, international payment, property abroad
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