Don’t leave your currency until last! We advise speaking to a specialist currency company before you even start looking at property online. After all, how can you set a budget unless you know the sort of exchange rate you’ll get?
It’s vital to think carefully about who you choose to transfer your money.
There are three main reasons for that. Firstly, you are transferring a lot more money than when you pop over for a holiday. You want the best rate possible, but you also need to eliminate any risk from the transfer process.
Secondly, when you are trying to put down a deposit on a property, or you’re in the notary’s office about to complete, you need a currency specialist that best understands property transactions. That probably won’t be your high street bank. If they’re at the end of a phone, not hiding behind an app or website, that’s even better.
Thirdly, you need a company that can protect you from currency volatility. The process of buying a home in Spain takes at least a few weeks. That’s perfect for planning the patio furniture and inviting guests to the housewarming, but also means that the value of the pound can change significantly. Unless you secure your exchange rate when you sign the contract, you won’t know what it will cost when you pay the balance on completion.
Our recommended partner is the solution to all of those potential problems.