Foreign Currency Exchange
When buying a property abroad we have found it very important to utilise the services of a reputable foreign exchange currency broker. Fluctuations in exchange rates vary greatly and Algarve Property Finders have established an experienced partner in this field.
As an example, on a property purchase of 600,000.00 euros, the high street bank rate would be approximately 1.37 euros/£1. This would mean that you would need to pay £437,956.21 to "buy" your euros.
By using one of our partner companies you would receive a rate (as at 9.10.07) of 1.4452 euros/£1. This rate would mean that you only need to pay £415,167.45 to "buy" exactly the same number of euros.
That's a difference and a saving of almost £23,000.00 just on the exchange rate alone, which we are sure you would agree, was worth knowing about. You are also able to reserve you euros ahead of time, so you know exactly how much you property will cost you, ensuring that any fluctuations in exchange rates are negated.
Our partner is HIFX PLC who are based in Windsor and they provide a wide range of services to buyers of overseas property. We suggest that you contact them, quoting our preferential account number 116945 and they will be very pleased to offer any assistance that you may require. Alternatively, we can ask them to call you at a convenient time if you prefer.
