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buying property abroad
paige4
Posts: 1 Newbie
Hi, i am trying to buy property in galway ireland, i live in the uk.
I need to know how to receive the best euro rate. All my bank accounts are in the uk i will be making a cash offer in excess of £100,000 the banks tell me i will get the rate on the day of exchange, this could mean i could lose 2/3/4000 euros depending on the exchange rate.
Any advice?
thanks
I need to know how to receive the best euro rate. All my bank accounts are in the uk i will be making a cash offer in excess of £100,000 the banks tell me i will get the rate on the day of exchange, this could mean i could lose 2/3/4000 euros depending on the exchange rate.
Any advice?
thanks
0
Comments
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If you google foreign exchange broker you will find quite a few who will give you much better rates than a bank will, its ususlly 3-4 cents better (1.2005 from a broker compared to 1.167 from a bank a few days ago). If you are changing over £100,000 schenkers will be worth contacting and give slightly better rates than the brokers. Whoever you go with you can get spot rates (what they are now) or book a rate now for future transfer.
Make sure whoever you go with is regulated, most are but there are the odd one or 2 who are not.
Good luck with it, Galway is lovely
Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20360
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