Ideal Country Property has just opened in Alhaurin el Grande, only 20 minutes from Malaga airport. They cover an area slightly inland from the Costa del Sol, and offer a personalised service to match your requirements to one of the many types of property available - apartment, townhouse, finca or villa - to suit every budget.
The owners have many years of experience in the property market in this lovely area of Andalucia which has given them the knowledge and expertise to help make your purchase a trouble free and pleasant experience.
Ideal Country Property
Friday, 16 March 2007
Foreign Exchange - fixing the best deal
If you buy a property in Spain for every £100,000 you could pay as much as £6525 in extra fees by getting the wrong deal.
Using a bank to exchange £100,000 could cost you £4000 on a poor exchange rate, another £2000 in commission charges, a transfer fee of £25 and a receiving fee to a Spanish bank of £500.
Banks tend to have a poor foreign exchange rates as well as charging transfer fees and commissions. Foreign exchange companies are much cheaper and user friendly. They also offer you a chance to fix your exchange rate for up to two years which is useful if you are buying off plan and have to make staged payments. It is possible the fixed rate may not turn out to be the best rate but at least you will be certain how much you will have to pay.
Currencies Direct and HiFX are two of the foreign exchange companies to look out for. They do not charge transfer fees and once you have registered with them they will send you an alert when rates are favourable. So it’s a good idea to register as soon as you have agreed to purchase a property.
Examples: (Exchange rate on February 26th)
Using a bank to exchange £100,000 could cost you £4000 on a poor exchange rate, another £2000 in commission charges, a transfer fee of £25 and a receiving fee to a Spanish bank of £500.
Banks tend to have a poor foreign exchange rates as well as charging transfer fees and commissions. Foreign exchange companies are much cheaper and user friendly. They also offer you a chance to fix your exchange rate for up to two years which is useful if you are buying off plan and have to make staged payments. It is possible the fixed rate may not turn out to be the best rate but at least you will be certain how much you will have to pay.
Currencies Direct and HiFX are two of the foreign exchange companies to look out for. They do not charge transfer fees and once you have registered with them they will send you an alert when rates are favourable. So it’s a good idea to register as soon as you have agreed to purchase a property.
Examples: (Exchange rate on February 26th)
- Currencies Direct - rate 1.4861 = Euros 148,610 Transfer fee - None
- HiFX - rate 1.48 = Euros 148,000 Transfer fee - None
- Natwest - rate 1.42 = Euros 142,000 Transfer fee - £20
- Halifax - rate 1.4836 = Euros 148,360 Transfer fee £17.50
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