The Cost of Exchange

  • I recently took part in a well-known property show, aimed at helping people to find a little spot of sunshine in which to purchase their dream home and try a life abroad.

    So many hopeful buyers, mooching around the maze of stands: property agents, lawyers, tax and finance experts - everything under one roof to allow the potential purchasers to gather information that will assist them in their search and the buying process.  One thing that became quickly apparent during the 3-day show is that even with the most organised and dedicated of house-hunters, they usually come away with information regarding various aspects of moving abroad that they had previously never thought of.

    My line of work is currency.  I was amazed with how many people came to talk to me at our stand and started by saying 'What do you do?' or 'How does it all work?' or even... wait for it... 'Is it worth it?'  Unless you like paying unnecessary bank charges on your international transfers or handing over a large proportion of your hard-earned holiday home money to your bank when they exchange your GBP for Euros (or any other tradeable currency for that matter), then I can confidently say... YES, using a Currency Broker is definitely worth it!

    The exchange rate is certainly a talking point at the moment, given the current economic and political situation in the UK and further afield, however, in using a Currency Broker, you could be saving up to 6% on the exchange rate compared to using your bank... that's £6,000 for every £100,000 you transfer! 

    Even for those who aren't yet ready to buy, but are using their holidays as house-hunting missions, or moving out and renting to 'test the water' while they take a look around, we have various tools available to make sure you get the most for your money.  We offer a no-obligation and fee-free service with no minimum amount required.

    If you would like to know more about 'what I do' and 'how it all works', please don't hesitate to get in touch at: sev.edmundson@premierfx.com or on 0034 673 725 460

    Severina

     

    Premier FX is authorised and regulated by the Financial Conduct Authority and this can be verified on the FCA website - Our reference number (FRN) is 530712.