f you already live in
France, or intend to Transferring money via a currency
finance your property house is often cheaper than using
purchase from equity in your UK your bank for two reasons;
home, chances are you'll want to firstly their charges may be
move some money abroad. lower than your banks, but more
importantly the exchange rate you
receive is likely to be more
attactive than the rate offered
Transfering money from the UK to by your bank which is typically a
France requires someone to handle tourist exchange rate and
the transfer on your behalf and signifcantly lower than the rate
usually your bank will be happy you see published in the
to assist you but beware, though financial press.
convenient and familiar, your
transfer might cost you more than
it needs to.
Better yet, both spot and forward
methods are available. The
former converts your money at the
Instead you may be better prevailing exchange rate when the
contacting a currency house, a money transfer is made and is the
company which exists specifically method most of us use
for the purpose of moving money; unknowingly, whereas the forward
both large single amounts for method allows you to fix the
your property purchase, and lower exchange rate up to 24 months is
regular amounts such as a monthly advance of the transfer, useful
pension. if you believe the exchange rate
will fall by the time you
actually make your transfer.
advise in your specific
circumstances.
This article only provides a Copyright 2005 Oliver Phillips.
general appreciation of the topic May be freely reproduced "as-is"
and it is not advice. Guidance for private and commercial use.
should be sought from a
specialist who is qualified to
About the Author:
Oliver Phillips works for PFS France (http://www.propertyforsalefrance.co.uk/) a business that helps French property owners advertise and sell, and potential buyers find, some of the finest and best cared for traditional French properties available.
Source: www.isnare.com
