TorFX offer ultra-competitive exchange rates for people buying property abroad, whether you are buying a second home, or emigrating. We can also send your funds to your foreign bank account free of charge.
Before you commit to buying property abroad, you should take time to consider the financial implications of your transaction, especially in respect of the exchange rate. Exchange rate fluctuations can make a dramatic difference to the price you end up paying for your property abroad. TorFX are able to offer preferential exchange rates which are usually only available from your bank on transactions of £1m or more. On a typical transaction, clients save 1.6% by using TorFX. On a large currency transfer, this could mean saving thousands of pounds.
There are also other factors you will need to consider when buying property abroad.
Buying Property Abroad - Legal Representation
It is always worth seeking advice from a local lawyer when buying property abroad. A bilingual lawyer will also help to ensure that things go smoothly, and that you understand the process.
Buying Property Abroad - Buying Outright
If you are buying a resale property abroad, you will at some point need to change your sterling into the relative currency. TorFX can help you get the most from your transaction, as well as protecting you from exchange rate fluctuations. Once your property purchase has been agreed, you can reserve your currency at a guaranteed exchange rate, allowing you to have total peace of mind, and focus on the more enjoyable aspects of buying property abroad.
Buying Property Abroad - Buying Off-Plan
If you are buying property abroad, and your property is part of a new development, you will probably need to make a number of "stage payments", with the final payment due upon completion. This can entail risk, since the exchange rate is likely to fluctuate considerably during this period. TorFX can help you avoid this risk by fixing a guaranteed exchange rate for your various stage payments in advance. When buying off plan property abroad, this option can be highly advantageous. |
