Despite the availability of top-end commercial exchange rates, most private individuals still use their bank to transfer money internationally, and in doing so may be missing out on savings up to 5%. When buying a property abroad the sums of money involved are considerable and therefore the potential savings are considerable.
Choosing an independent financial services company such as our trusted partners deVere Group can help make your money go further.
The single currency has lost serious traction over the last week as Grexit talk had fuelled the market with speculation and turmoil. An agreement has now been reached and the Greek parliament have reluctantly pushed it through.
Current market conditions for buying Euro’s is extremely attractive and current GBP/EUR rates are the highest since 2006. EUR/USD has been trading well into the teens as of late, and is now below 1.10… This presents a unique buying opportunity.
The FX market is extremely turbulent at the moment and taking the initiative to take advantage of current conditions would seem prudent
— Joel Symmons. deVere Group Foreign Exchange
How to take advantage of today’s favourable exchange rate
Currency exchange rates change from day to day, and whereby today the exchange rate may be in your favour, there is no guarantee that by the time you come to pay for your property the exchange rate will still be as favourable.
One possibility is to purchase a forward contract which essentially allows you to lock-in today’s exchange rate for up to one year ahead, requiring only a small holding deposit. For more information and independent financial advice please complete the form below.
Independent Financial Consultants
MIA’s trusted partners deVere Group is the world’s largest independent financial consultancy group with in excess of US $8 billion of funds under administration and management, deVere has more than 60,000 clients in over 100 countries.
deVere Foreign Exchange provides a free bespoke currency exchange service to help our clients achieve the very best exchange rates possible when transferring/exchanging currency.
Key points to the dVFX account:
- A free, quick and easy to use service
- Access to live market pricing up to 5% better than the banks
- Free onward payments
- A dedicated client manager to look after you requirements
The application is quick and easy, once it is open it is free to maintain with no obligation to use it. When your account is open it allows your personal trader to look at live market pricing and inform you on any market movements with regards to your plans ahead.