All the hard work, research and home searching is complete, the guidance and advice you received from the professional team you engaged has been duly considered and you have found the perfect place to be. Now is the time to make your money work.
When you look at a house purchase in Spain the question of money transfers and exchange rates will almost always be matters that require investigation. A good exchange rate will certainly benefit when funds need to be moved form one place to another during the house purchase process. The high street bank with whom you have been dealing with domestically for years might seem the ‘Go To’ option but it should be reconsidered for this task and instead the use of a Currency Exchange Specialist should explored.
In the world of currency transfer, market fluctuations can have a significant impact on the amount you receive in the foreign destination account. The currency market can be volatile and can rise or fall sharply depending on a number of market conditions including positive or negative news releases. Central Bank announcements, newly released economic data, Political news and movements in bank yields or bonds.
These factors are all inter-related and in the context of international currency markets can create a state of flux. This is why the currency market is somewhat unpredictable and at times undergoes volatility.
With the Spanish property market predominantly driven by UK buyers Sterling to Euro exchanges are the most common currency exchange in the house purchase context.
Brexit and the General Election led to uncertainty in the business community and the financial markets causing fluctuations. These events resolved there should be less pressure on Sterling moving forwards, however in the currency markets nothing is guaranteed and globally there is nothing the individual can do to influence decisions taken by the US or China or the policies of the Bank of England for example.
You may not be able to control the exchange rate but there are steps you can take to make sure you get the best that the markets have to offer. This will take planning and a little time but will deliver dividends when making international payments.
A perfect place to be.
Speaking to a currency specialist will help you to understand the jargon, identify rate trends so you can iron out some of the possible volatility thus enabling you to keep to your budget.
They can explain to you the various tools they use to track currencies that could benefit you in making transfers, following a particular currency and fixing a rate of exchange for instance.
Most people deciding on a house purchase in Spain will normally work out the price using the Sterling to Euro rate at that time, however if there has been adversity or uncertainty in the markets it could cost significantly more when the time comes to make a transfer.
If you are looking for certainty using the services of a currency transfer specialist could allow you to fix a favourable exchange rate for a fixed period of time. This will negate possible unfavourable currency transfers in the future. There is a peace of mind element here but consider the possibility of a future rate improvement you could be locked in to the lower rate.
All this information and more is available within the currency specialist services industry, it is safe, secure and extremely well regulated with client confidentiality and data protection at its core.
As an individual making a house purchase in Spain a lot of research and hard work has gone in to successfully finding the right location and the right property.
Therefore it follows that the method you choose to buy the perfect place to be should be as successful.
If currency transfers are to be within the process they need to be managed in such a way that any market benefits are maximised and for this a currency specialist can be of great assistance.
Come to Spain Group S.L. through their chosen currency specialist and market leader moneycorp can provide help and advice on currency transfers before, during and after the decision to buy the perfect home has been taken.
Should you require any information about buying a property in Spain please do not hesitate to contact us or you can Join Us to receive regular updates and information on various topics about life in Spain.