Spanish conveyance Solutions SpainHow can the exchange rate affect my purchase in Spain
The cost of property when purchasing in Spain and how much it costs to maintain that property or a Spanish Mortgage can vary considerably depending on the fluctuations between the currency in which you earn your money and the Euro.
The difference between the best currency conversion rate available and the worst can be vast.
Do Spanish Banks offer the best currency exchange rates
Traditionally Banks offer much lower exchange rates than specialized currency providers and are unable to advise on the timings of movements of money based on market conditions.
When buying a property in Spain or arranging a Spanish mortgage and its subsequent regular payments it is advisable to speak to a currency exchange company, set up an account and build a long term relationship with them.
What are the potential benefits of using a specialist foreign exchange company
A good currency provider will work with you and advise you as to the best time to transfer money. They will offer fixed exchange rate deals for those who want certainty as to the cost of the asset they are buying and the ongoing cost of running that asset. For clients who want to try and maximize the transfer by transacting without forward buying, a currency specialist will provide ongoing regular advice as to when to trade.
Can I and should I fix my foreign exchange rate
There is no wrong or right answer this will depend on you. Some people prefer the certainty of knowing exactly what rate, and therefore what their costs will be for both, the purchase and the ongoing costs of running their property in Spain. Some people will prefer to not fix at a certain rate but move money and larger lump sums when they think market conditions are showing rates at their highest in the medium term.
For registration details and initial advice on what currency strategy would be right for you contact us today »
Current exchange rates
Based on live rates from The Foremost Currency Group
Exchange calculator
Based on live rates from The Foremost Currency Group