FOREIGN EXCHANGE AND HOW TO GET THE BEST RATE
Buying a property overseas? Want to get the best deal on foreign exchange? We understand, and that's why together with Moneycorp, we've put together this guide to currency exchange for overseas property buyers.
We'll show you the different currency purchase options, how to protect yourself from adverse currency movements and how to contact us for advice and make currency transfers at UNBEATABLE exchange rates.
Exchange rate volatility will play a key role in your local currency transfer. It is not uncommon for currencies to fluctuate by as much as 10% over relatively short periods.
For example, a couple purchasing a property in Florida for $200,000 dollars would have paid:
£108,113 sterling in January 2006. Four months later, they would have paid
£112,720 sterling for the same property, simply due to the change in exchange rate!
By securing an exchange rate in advance with , they would have saved over £4,500.
In addition, you can take advantage of the following benefits:
What will it cost me?
In general the more money you wish to convert the better the rate. Depending on your bank or broker, there will be a cost to transfer funds of between £15 and £40 per transaction. It's a good idea to compare the total cost of a currency trade as some currency dealers do not charge a transfer fee but more than make up for this difference in the exchange rate that they quote.
Our Regular Payment Plan will be of great help to you if you have regular currency transfers to make. Such transfers might include overseas mortgage payments, pension payments or any other regular currency transaction.
The Regular Payment Plan offers you three simple payment options. Whichever you choose, you will always receive an excellent rate of exchange and enjoy the convenience of making payments by Direct Debit as opposed to arranging individual payments through your bank.
How does it work?
The Regular Payment Plan is flexible to suit your needs. Your regular payments will be paid to Moneycorp by Direct Debit. will then arrange for all currency transfers to be made to an account specified by you. will not debit your account more than 5 working days before the value date of your currency payment. Please note that the minimum monthly transfer amount is £250.
How much will it cost?
The only charge for this service is a £4 transfer fee for each transfer made on your contract.
Bank receipt charges are eliminated. We guarantee that our clients will not pay any bank receipt charges when sending funds abroad*. This guarantee applies regardless of the amount being transferred or to which bank.
Ready to Start or Find Out More?
Call Overton Realty for more information: 407-932-1117.