How can Smart Currency Exchange help with your Portuguese property purchase?
Many people don’t realise just how much of an effect the constantly fluctuating exchange rates will have on the price of your property and any associated costs in Portugal. Using Smart Currency Exchange to transfer your funds could save you thousands of pounds.
The currency market is live and fluctuating all the time, meaning that even when you know how many euros you are spending on your new property in Portugal, its price in sterling or any other currency is constantly changing. Over the course of days, weeks or even months this change could be dramatic – and if this happens between the time you have agreed to purchase your dream property and the time you actually complete the purchase, this may well take it beyond your budget. This makes the way that you transfer funds incredibly important, and shows that it is prudent to have an idea of how to plan these fluctuations into your budget.
For example, in November 2015, the GBP/EUR rate hit a seven year high of €1.43, before dropping down to €1.23 in April 2016 due to speculation over how the UK will vote in June’s EU Referendum. This means that in just five months, the price in pounds of a €300,000 property would have increased from £209,790 to £243,902 – and the buyer would have to find a further £34,000 to purchase the same property.
Even when you know how many euros you are spending on your new property in Portugal, its price in sterling or any other currency is constantly changing.
We recommend signing up with a currency specialist as soon as you know you want to buy property in Portugal.
Using Smart Currency Exchange
By using Smart Currency Exchange to convert your sterling into euros and send it into Portugal, you could save thousands of pounds – through expert guidance and the specialist tools they offer to help you plan your transfers and make the most of your money.
• Opening an account with Smart Currency Exchange, who is authorised by the Financial Conduct Authority (FCA) to transfer funds between countries safely and securely, will give you instant access to your own personal trader. By opening this account at the very beginning of your process, you can immediately access all the expert resources to help you plan your currency schedule, depending on the market movements – thus ensuring, you are prepared to deal with the impact of currency fluctuations. This will provide you with ways to protect yourself from risk and plan your budget with price certainty.
At Property Guides, we have worked with Smart Currency Exchange for over a decade, and in that time, they have provided expert currency transfer services for thousands of our readers.
About Smart Currency Exchange
Smart Currency Exchange [LINK] helps clients to effectively and efficiently transfer funds across the globe – and have become experts in the overseas property market over the past decade, thanks to their numerous clients moving through this process.
The benefits of Smart Currency Exchange:
- Effective solutions to manage the risk posed by fluctuating exchange rates
- Quick and easy transfers
- Safe and secure transactions
- No transfer fees or commissions on transactions over £3,000
- Authorised and regulated by the FCA
- Dedicated Personal Account Manager and expert trader
Smart Currency Exchange is an experts in the overseas property market over the past decade, thanks to their numerous clients moving through this process.
Smart Currency Exchange knows that purchasing property in Portugal can be a daunting process. By signing up with them early on, they can be on hand from the beginning to offer you expert guidance on everything involved in the buying process – including the considerable impact that fluctuating exchange rates could have on your plans.
Save money when buying overseas
Whether you are buying a property abroad, making regular payments, sending money overseas or back in to the UK, you want the most cost-effective, safe and easy way to transfer your money.
That’s where Smart Currency Exchange can help. As the one of the UK’s fastest-growing currency exchange specialists, we save our clients thousands of pounds every day by minimising the risk associated with transferring money overseas.