Whether you’ve just started looking, or you already know the exact cottage you want to buy, a currency specialist can help you with the foreign exchange implications involved in buying a property in France. You may be tempted to contact your local bank as a convenient option but a currency specialist may be able to offer better value and provide guidance on the fluctuating foreign exchange market.
Plan ahead to make the most of your money
The earlier you start working with a currency exchange broker, the better. Finding the right rate for you can take time; exchange rates are influenced by political and economic factors. Due to the high volume of transactions that a currency broker undertakes every day, it enables them to achieve and offer customers better rates than a high street bank may be willing to provide.
Guidance on the best tools for your requirements
A currency specialist can also help you with your payments throughout the process of buying a property in France. They can offer tools such as a forward contract, which allows you to fix a rate of exchange for a set period of time, meaning you can plan ahead and be certain that any required payments – perhaps in the time between placing a deposit and paying for the property – will be paid in full. Exchange rates can fluctuate by as much as 10% or more over relatively short periods of time, so they can have a substantial impact on the ultimate cost of your property. Forward contracts are a means of protecting against subsequent currency movements and offer a way of managing your exposure. Please note a forward contract may require a deposit.
Expert support and market understanding
If you’re lost in all this discussion of the currency exchange, a specialist also has the knowledge to provide guidance and support and can talk you through the process of making an exchange, the state of the market and tools to manage this which best suit your needs. A currency specialist will have experience in guiding people like you through the currency implications of a property purchase and will be set up to provide expert support and tools to make the process as simple as possible.
A currency specialist can provide you with both an expert service and a measure of choice in how you manage your funds to ensure that you can buy the home of your dreams in France.
moneycorp is a trading name of TTT Moneycorp Ltd which is authorised and regulated by the Financial Conduct Authority for the provision of payment services. All customer funds are safeguarded in segregated client bank accounts.
Call +44 (0) 20 7589 3000 (Open 7:30am – 9pm Monday 9am to 1pm Saturday to Friday UK Time)
Moneycorp are Sextant French Properties preferred currency partner and have been selected due to their great rates, great service and great solutions. These are some of the reasons they have transacted over two billion pounds for their clients.
Moneycorp has been in the business of moving money between countries and currencies for over 30 years and offers money-saving foreign exchange to customers ranging from blue-chip businesses to private individuals. We make money transfers simple and help you to manage foreign exchange rate movements.
Moneycorp also offer a number of different contract options for Sextant clients including a forward contract where you can fix a rate of exchange for a period in the future using just a small deposit, perfect to help take the risk out of the currency markets and budget for your French property purchase.