Why gamble with your money

When buying a property abroad there are many aspects of the process to consider, some of which may seem confusing. Having decided to buy overseas you will probably find yourself doing some or all of the following:

1. Research the location.
2. Selecting a property agent.
3. Finding the ideal property.
4. Making an inspection visit.
5. Agreeing the price.
6. Choosing a lawyer.
7. Selling your own property/Releasing funds from other assets.
8. Finance options.
9. Choosing furnishings.
10. Selecting a removal company.

There is one item missing however, which is purchasing the relevant currency for either the deposit or for the full amount. Many purchasers overlook this important subject until it is too late to benefit from market movements. In our experience the ideal time to call us and speak with one of our specialists is at day one. Why? well, many people have a sterling figure that they use as either a budget or as a guideline and whilst this figure will remain fixed in their heads, the final rate obtained can make a huge difference. The Foreign Exchange markets are constantly moving with changes occurring by the second of every minute, hour and day of the year. Why would you want to gamble in the biggest lottery game of all, with your hard earned money?

Example

You are buying a property in France, you have agreed with seller a purchase price of €215,000 which when you signed the contract, the £ to € exchange rate was 1.4650, which means you will have budgeted for £146,757 which does not need to be paid until completion.

Six weeks have passed and you need to transfer the €215,000 which you have agreed with the seller. You contact your bank and they now quote you an exchange rate of 1.41, which is a movement of 3.7% and not unusual, which means you now need to pay a further £5,782, £152,482.

Can you afford to take the risk???

Solution

Let the Private Client Division at Corporate FX Ltd help by not letting currency exchange become an after thought. We help thousands of clients annually; send money all across the world at commercial rates, and at low cost. Why wait? delaying making the call could cost you thousands. Speaking with one of our team will allow you to understand the process of buying currency, the methods available; obtain detailed market information, and a price that hopefully meets your expectation level. We are ideally positioned to assist you as we have no call centre mentality; you speak directly with a member of the team who will be with you all the way through the process. Once registered you are under no obligation to trade and are not entering in to a financial commitment.

Next Steps:

1.Call the Private Client Team on 0207 743 7000 or 0800 731 2778 and discuss your requirements.
2.Visit the website, corporatefx.co.uk and download registration documents.
3.Complete the registration documents and either fax them back to us on 0207 743 7030, or scan and e-mail them to your FX Sales contact.

Please remember that we are here to help you, and up until the point you actually enter in to a transaction to buy or sell a currency, you are not committing yourself.