At Alpine Property World, we understand that buying a property overseas can be daunting, and getting the best deal is a priority. In addition to the price of a property, it's important to consider how any associated costs could impact your budget. For example, exchange rates can have a huge impact on how much you pay for a foreign property as they're always moving.
We've partnered with TorFX - a multi-award-winning currency provider - to help you navigate the volatile currency market and get the best return on your property purchase. TorFX offer exceptional exchange rates, no transfer fees, specialist transfer services and excellent customer support whether you transfer over the phone, online or through their app. TorFX hold a five-star rating on Trustpilot and have been voted Consumer Moneyfacts International Money Transfer Provider of the Year seven years running.
Kate and Kevin fell in love with a beautiful property near Lake Geneva.
However, the property was at the top end of their €600,000 budget, and they were concerned that unexpected costs could leave them without any funds to furnish it.
Kate came across TorFX on our website and made contact straight away.
At the time the GBP/EUR exchange rate was trading at €1.18.
The couple's dedicated TorFX Account Manager talked them through all the different services available and kept them up to date with the latest currency news. Knowing it would take a few months to complete the property purchase, Kate and Kevin decided to protect themselves from any unfavourable shifts in the currency market and used a forward contract to fix the rate at €1.18.
This would see the couple receive € 649,000 when they transferred their £550,000 savings.
By the time the purchase completed, GBP/EUR had plummeted to €1.11. If Kate and Kevin hadn't fixed the rate
in advance they would have received €610,500 - €38,500 less!
The couple were able to use the funds to furnish their new home and set aside enough to pay for a few trips back to the UK.
If you'd like to find out how TorFX could help with your property purchase you can get a free quote now.