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Featured Listings Orlando 3 beds/2 baths €155,000 |
The Facts
about Currency Conversion.
The most common way of buying currency is to settle the trade on a 'spot' basis. This is not to say that the funds are exchanged on the spot, literally, but the usual time between the trade being agreed, and the purchased currency being remitted is two working days. The second method is more suited to clients who are keen to take advantage of an attractive, current rate of exchange, but who do not need the purchased currency until a later date. This is known as a 'forward' trade, and the settlement date can be fixed up to 4 years in the future. There will always be an adjustment to the current rate for this service which is determined in relation to the length of time involved. You will be obliged to pay a margin of 10% of the Sterling equivalent of the trade, which will secure the rate with the bank and also provide security to protect you against fluctuations in the market during the term of the trade. The balance of 90% is expected to be paid at least three working days prior to the settlement date. The main advantage of buying currency on a ‘forward’ basis is that the rate is fixed and remains the same regardless of any fluctuations for the duration of the trade. If, however, the market rate moves lower, you remain contracted to deal at the higher rate at which the currency traded. The disadvantage of dealing for a future date is that
if the market moves higher during the period of the trade, you are contracted
to deal at the rate agreed at the time the deal was struck. It simply
depends upon your perceptions of how you think the market will act.
This information is provided
by FX Solutions Ltd.
 FX Solutions provides a bespoke foreign currency service, to suit the different needs of their clients, and will always promise 'never to beaten on price'. All of the dealers at FX Solutions are experienced market professionals and will be happy to offer you an unbiased opinion on the best way for you to make your currency purchase. For a 'no obligation' quotation, telephone us on +44 (0) 1689 601111 where one of our foreign exchange dealers will be happy to assist you 24 hours a day, 7 days a week: Financing your overseas property
So you have found your dream home in the sun, what’s the best way to finance your purchase? Here we will try to open your eyes to the finance possibilities of funding you’re dream property in the sun. There are three main options. Option 1 – Savings Option 2 – Leveraging the equity in your existing property through remortgaging. Option 3 – Using a local bank to provide you with a mortgage. Obviously, paying for your property in cash from your savings is always going to be the most convenient option, however, for most of us this isn’t an option at all. Therefore the services of a financial adviser and mortgage broker become indispensable. Option 2 and 3, or a combination of both is the most common solution. It is surprising what can be bought with even the most modest amount of equity in your property, especially in a country like Bulgarian. Elsewhere, Florida or France for example, local mortgage providers usually seek a minimum 25% deposit. This information was compiled with the assistance of Money Matters,
experts in financing overseas properties. If you would like assistance
from Money Matters, with financing your overseas property, please
complete the email form.
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