Apart from the negotiations into the price of your property purchase in France, the other and often overlooked area to save a few thousand pounds is in the actual currency conversion.
Many people still forget that there is an alternative to using their bank to make the transfer to their French Notaire and often end up with a poor exchange rate and high commission charges from their banks. The Internet has spawned a wealth of companies and websites all offering currency exchange rates much more competative than most banks.
What do these online currency converter companies offer?
- In brief very competative currency exchange rates & Lower commissions on currency transactions.
- Regular currency transfer facilities.
- Fixed rate currency transfers.
A slight change in the exchange rate on the money markets can lead to a significant change in the value in pounds of your French property purchase. A recent article conducted by 'The Sunday Times' Concluded that using online currency exchange companies can save you over £3000 on a French property purchase of 100,000 Euros. This could easily pay for your removal costs or indeed a septic tank installation in France. So don't give it to your bank, keep it for yourself!
Many people are moving to France and want to make regular money transfers to their French bank account. This could be because they have a UK pension or may have rented out their property in the UK and want the funds transferred regularly to their French bank account. This is also possible with online currency conversion and foreign exchange companies. This is also possible to do with a 'FIXED' rate of currency exchange up to 2 years. This can help you plan for the future as you'll know exactly how much you'll have transferred to your French bank account in Euros as you'll be protected from currency fluctuations.
For more information on a regular direct debit money transfer and fixed rates of exchange for two years from the company that's currently handling the foreign currency exchange for the Royal Mail!!!! - CLICK HERE
For a straight forward pop up online currency conversion tool - Currency Converter