Buying Property Abroad

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Buying property abroad can be one of the most challenging and stressful times of peoples lives, while the added pressure of purchasing foreign currency is only a small part of the overall process, it can be the difference between spending money and saving money.  

At HIFX Plc, a Windsor based Foreign Currency Exchange Company, we hope to alleviate the risks and take the worry out of the process. By taking the time to understand your individual circumstances, we can help you identify the best way of protecting yourself from adverse movements in the exchange rate and provide you with a better exchange rate than your local bank.

 Why does currency matter when buying property abroad?  

· When you agree to buy a property abroad, you will know the price of the property in the corresponding currency.
The cost of the property depends upon the exchange rate that you are able to achieve to buy your currency.

· Therefore, you need to make sure that you are buying the euros at a competitive rate. As a general rule using a specialist currency broker, such as HIFX, will usually enable you to buy your money at a better rate than your bank would offer you. This is very easy to check as you can easily compare prices or 'shop around'.

Does this 'currency risk' really make a difference?
A European property priced at 200,000 euros would have cost £131,578 in May 2004 but increased in cost to £140,845 by January 2005 (an extra £9,267 in 8 months).

If you decide to buy foreign currency each time a payment is due, then you might benefit if the Pound stays strong but you are taking a big risk. What price would you put on peace of mind?

To summarize the benefits of using a specialist such as HIFX:

· Personal 'hand holding' service by patient currency consultants

· Excellent exchange rates

· Rapid euro transfers abroad with no UK transfer cost

· Guaranteed forward prices for up to 2 years ahead

In addition we at Bulgaria Beckons Guarantee to provide a better rate than anyone, yes, ANYONE when purchasing a property through our agency and using HIFX