Buying a property in Euros

When buying and selling a property in Spain, Cyprus or Portugal, you actually buy the property in Euros. This will generally mean that you will need to buy Euros with your UK pounds and then transfer them out of the UK, to pay for your new home.

We can offer you commercial exchange rates, which could save you hundreds of pounds when buying/selling property. You may know the price of the property you are buying/selling in Euros, but you will not know the Sterling Pounds cost as there is inevitably a time delay between agreeing the purchase/sale and transferring the money in or out of the UK.

We can protect you against this risk by way of a special “forward purchase” scheme. As you may know, currency rates fluctuate daily, and if you do not need to transfer the funds for your property for some months, the cost can therefore alter.
We can introduce you to foreign currency services that include:
- - No Commission
- - Commercial exchange rates (Almost certainly better than your high street bank).
- - Free transfer of funds overseas
- - Guaranteed forward prices (see section below)
- - Protection from currency risks
- - Courteous, simple and effective service. Forward Purchase of Euros
If you are buying a new property abroad, you will undoubtedly have many months, perhaps years between the stage payments, and thus the risk of currency fluctuations increases.
We can offer you a service whereby you can guarantee the rate of exchange you will receive in advance (up to 2 years) no matter what happens to the exchange rate. This means you know exactly how much the property will cost in pounds, instead of just knowing the Euro price.
For a free, no obligation quote, explaining how we can help you save money and avoid any currency risks when buying or selling a property abroad, Click Here. Key points when buying or selling an overseas property.
When buying or selling an overseas property you the client will know the price of the property but until you buy or fix an exchange rate for all of the purchase price, either in stage payments (new properties), or a one off payment (resale properties), you will not know the cost. Nobody can accurately predict future currency movements, so if you do not forward purchase your Euros for each stage payment, preferring to wait, you must be aware of the risk you are taking. There is of course a risk that you'll save money (which is never a problem), but most clients prefer no to take this risk.
It is worth reflecting on the fact that no one would buy property in their own country if they did not know how much it was going to cost them.

For individuals buying or selling overseas assets, such as property, yachts and cars as well as those transferring funds abroad for the purpose of, say, emigration. We have developed a successful, effective service for private clients to obtain better exchange rates, protection from currency risk and the free transfer of funds overseas. Forging strong links with property agents, car importers, international lawyers and overseas mortgage brokers the service affords private clients peace of mind when buying overseas.

Our services are available to all clients regardless of whether or not you are selling or purchasing a property through Profile Spain.