Keep the Change ; Using a Foreign Exchange Broker When Buying Abroad Could Save You Thousands

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BUYING a house abroad is not always a smooth process. It is all too easy to be lured by affordable property markets and a supposedly improved quality of life. The reality can be different.

However, thanks to a growing number of foreign exchange companies, overseas property buyers can now benefit from favourable exchange rates and reliable money-transfer services that many banks lack.

These currency brokers - which make their money in the exchange rate spread - offer competitive exchange rates owing to the large volume of daily transactions they carry out.

Savings can be between 0.5 per cent and 3 per cent of the amount being transferred.

Giles …