Save On Currency....
When transferring money abroad we advise using a specialist foreign exchange broker and not the high street banks. Brokers and banks often do not charge commission, however most importantly it is the exchange rate you achieve which can vary considerably between institutions that determines a good deal from a bad deal.
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Example Property Purchase: €200,000 + 7% IVA = €214,000 | |||
| Stage |
High Street Bank Rate = 1.4360 |
Caxton fx Rate = 1.4685 |
Currency Saving (*) |
| First 25% | £37,256 | £36,432 | £824 |
| Next 15% | £22,354 | £21,858 | £496 |
| Final 60% | £89,415 | £87,436 | £1,979 |
| Total | £149,025 | £145,726 | £3,299 |
Rates as quoted by Caxton fx and Alliance & Leicester on 1 June 2005. Saving excludes further £30 bank charge from Alliance & Leicester.
Rates can be typically 1% - 3% more favourable with an exchange broker who will operate on small margins close to the mid point of the exchange rate at the time. This could save you a few thousand euros on a property purchase. (see example above based on actual quotes producing saving of 2.21%).
Rapid Media Ltd. works with Caxton fx based in London for all our foreign exchange dealings and naturally we recommend their services to clients purchasing property.
Please call us on 0207 060 1475 for further infomation.
Rapid Media receives Polaris World sales award presented by Jack Nicklaus |
Our consultants are available to help you with any questions you may have. |