Beat currency volatility and save money on your property purchase
Posted on 28th February 2018
Exchange rates have an annoying tendency to fluctuate dramatically in reaction to economic, social, political and even environmental stimuli – and the volatility of the currency market can have a significant impact on an overseas property purchase or sale.
If you’re transferring funds abroad to pay for a property, or moving the proceeds of a sale back home, the exchange rate you’re able to secure for the currency transfer determines how much you actually receive.
For example, in 2017 the GBP/EUR exchange rate hit highs of €1.19 and lows of €1.07.
If you had £175,000 to transfer to France last year, your funds would have been worth €208,250 when the exchange rate was at its highest point, but €187,250 when it was at its lowest level – the difference of over €20,000.
But how do you know when the exchange rate is good, and how can you determine which direction the market might move in in the future?
Well, that’s where a leading international money transfer provider like Currencies Direct comes in.
Currencies Direct have been helping people save time and money on their currency transfers since 1996 and keep their customers informed of the latest market movements.
They also offer a handy rate alert service. You simply tell them what rate you’d like to achieve for your transfer and they’ll monitor the market on your behalf. If the exchange rate hits your desired level they’ll let you know immediately by SMS and email, so you’ll never miss out on a positive market movement.
Additionally, currency specialists like Currencies Direct can typically beat the exchange rates offered by most banks and help you avoid transfer fees, so you could be substantially better off with their support.
Whether you want to talk through your options with a currency expert or would prefer to make 24/7 transfers online in a couple of clicks, Currencies Direct will make sure you benefit from excellent exchange rates, fast, free currency transfers, access to a currency expert and total fund security.
If you’d like to have a chat about your currency transfer options with one of the Currencies Direct team, you can meet them at our French Property Show at Wetherby Racecourse on 18-19 May. Register for free tickets today