When it comes to buying or selling international property, most people forget about the exchange rate until the last minute.
However, adverse currency fluctuations can prove costly to overseas buyers and sellers alike.
Exchange rates move every few seconds throughout the day. Even small, fractional moves in the exchange rate can have a surprisingly large impact, particularly for property-related transactions.
For example, on a typical Spanish property of €100,000, if the exchange rate moved against you by 5%, it would cost you an extra €5,000 to convert your money.
That’s a significant sum.
But the issue facing most customers is they don’t when to exchange their money.
Our currency partner, Key Currency, have tailored their services to meet the needs of overseas property buyers and sellers.
Importantly, they can monitor the currency markets on your behalf and offer expert guidance throughout your transaction.
As specialists in international money transfers, they know how the markets move and the factors that cause exchange rates to fluctuate.
As a client, they will work with you to achieve the best rates, avoid losses and reduce costs.
With far lower overheads than a big bank, Key Currency can pass on the savings to its customers through more competitive exchange rates and by charging no fees.
From a regulatory perspective, Key Currency is approved by the Financial Conduct Authority (FCA) as an Authorised Payment Institution. As such, all money transfers are conducted through safeguarded client accounts, giving you peace of mind.
The key to successful property transactions is to be well-informed. Why not get in touch with Key Currency to discuss your specific needs and time frames.
When our clients find a property and are about to sign the agreement, Lexidy ensures they will not have any changes. The least possible expense and maximum comfort are our goals when it comes to buying and selling your real estate.