Paying off overseas mortgage

carlosboy

Hi

I live and work in the UK have a mortgage in Portugal on an apartment and would like to pay a lump off it off around £25k.My savings are in UK £ can anyone suggest the most efficient way of transferring payment , and where the best place to buy Euros would be.

Any suggestions would be welcomed

Conrad

I have a fair bit of personal experience with this.

I warned people in the past not to use these money brokeredge places and sure enough there have been recent cases were long stablished firms went bust and took all the money with them! I don't think thier insurers will bail you out, they won't. Even the largest brokers I would not use.

For this reason ONLY use a large UK Bank. You must'nt get hung up on a few quid difference in rates and fees whden it comes to transfering large sums.

I usualy use HSBC and it costs about £21.00, end of.