Currency Exchange

When buying or selling a property overseas, one of the most important factors to consider is how to exchange your currency. It is as important as negotiating the price.

Purchasers of property abroad are always keen to negotiate a good price, but most fail to realise that they can also achieve significant savings by receiving the best currency exchange rates.

Whilst the natural inclination is to go to your local High Street bank to transfer funds abroad, this is usually a fairly expensive way of doing it. Exchange rates and commissions provided by high street banks are significantly less favourable than those offered by our specialist foreign exchange partner.

Our currency partner can help you achieve commercial exchange rates, have tools available to protect you from adverse exchange rate movements and will make the whole process simple and straightforward from start to finish.

We recommend the services of the Foremost Currency Group (FCG) with whom we have negotiated preferential exchange rates for our clients. Transactions arranged through FCG are always at the most competitive rates, and the service is fast, efficient and hassle free.

• Security of Funds – Authorised by the Financial Services Authority (FSA) under the Payment Services Directive; client funds are held in segregated Client Accounts.

• Guaranteed commercial rates of exchange for now and up to 2 years in the future

• No fees and No commissions on exchange of currency

• Specialists in Foreign Currency Transactions, with calls answered personally in the UK

• A Stress Free Personal Service

• Full Compliance with H M Customs & Excise

• Registered with UK Money Transmitters Association

• A name you can trust, Teletext page 456 & ITV Digital 676

We have our own dedicated broker at FCG to assist you with your currency requirements.

Get in touch with Syed Ali to find out how much you can save.

CURRENCY NEWS

Market News 29/07Fundamental Forecast for British Pound: Bear  Sterling rose to a five-month high versus a broadly weaker dollar onThursday, as the U.S. currency came under sell pressure ahead of month-endand the pound continued to benefit from strong data. Sterling rose to$1.5656 versus the dollar, its highest level since Feb.18. The move came asthe dollar fell to 12-week lows against a host of currencies. Traders notedreports of large dollar selling to materialise into the end of the month,mainly due to rebalancing flows following outperformance in U.S. equitymarkets. Against the Euro the pound remains below the psychological level of1.20 at 1.1991 with many traders looking to push the pound higher todaydependant on relevant data.BoE Governor Mervyn King said Friday's strong second quarter growth datadoes not mean rate setters should put their foot on the brake. He warnedrisks remained to the recovery and said monetary policy could go in eitherdirection. British Pound Looks for Direction as Comments by Governor Mervyn King RaisesConcerns of Stagflation After the GBP/USD crossed above the 200-day SMA yesterday, price actionmerely hovered above this moving average today after posting an intradayhigh of 1.5639 during the morning session following comments by GovernorMervyn King. Mr. King told MP's that "there will come a point when we willcertainly need to ease off the accelerator and return the Bank Rate to morenormal levels," and went onto warn that high inflation will continue toerode power through next year as the economy faces the threat of"stagflation."

Apply for currency account or more information to suit your own particular currency needs for overseas purchases.