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Posted November 15th, 2012 by Charles Purdy

SMART move

France property

Can you guess how much this pretty four-bedroom house in France’s Dordogne 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 property, which includes a studio apartment and two acres of land, is a tempting €386,900 (for more details contact OGC on 0207 898 0549). But we thought we’d demonstrate how the actual price in pounds to British buyers fluctuated at various points over just three months thanks to nothing more than exchange rate movements. The result is by a hefty £8,421 enough to cover the cost of furnishing the property, with a few meals out with the family thrown in

Date Approx. Smart £/€ rate Property price
November 14 1.239  £312,268
November 7    1.247    £310,265
October 15    1.237  £312,773
September 14     1.233 £313,788
August 14  1.267 £305,367 

 

 

 

 

 

The good news is, you can eliminate the effect of fluctuating exchange rates on the cost of your overseas property? 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. Speak to us today though and we’ll reveal how a forward contract could help you fix the cost of your overseas home in pounds, before you have to pay for it in a foreign currency. Call Smart on 0808 163 0102.

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