Save for a Place in the Sun
What is it about owning your own home? There is nothing quite like a patch of earth to call your own. Whether you are looking to buy or sell your place in the sun, take advantage of the cooling property market and get more for your money by investing in the services of a foreign exchange specialist!
Property is something we all think about at various stages in our lives. Where, how and with whom we choose to live are among the most important decisions we will ever make. For many of us, our emotional and financial wellbeing is invested in the bricks and mortar we like to call home. Changes in the property market inevitably affect the way we live and as such, are worth specialist advice.
At the moment, Europe and the UK are in the midst of a well publicised slump in the housing industry. After a decade of rapid growth and easy credit, banks have tightened lending criteria making it harder for people to borrow money. Less money means less people to buy, creating a glut of unsold houses on the market, which in turn, is driving prices even lower. Cyprus on the other hand, continues to be a hot spot for investors, and private clients looking for that second home as a holiday home or even a permanent move to reside in Cyprus full time.
But the news is not all bad. While every market is naturally subject to fluctuation, property tends to fare well as an investment by retaining its value over time. What these fluctuations do provide, is an opportunity to make the most of your investments. Whether you are buying, selling or renting property, the use of a specialist foreign exchange dealer will make a significant difference to your finances.
Having lived overseas already, you will understand the hassle and expense involved in maintaining a property abroad. Mortgage payments, buying and selling property, even simple currency exchange is complicated by high bank fees, commission charges and unreliable payments, all in a foreign language which can make settling into a new country difficult to say the least!
By using a foreign exchange specialist, you can save you time and money when dealing with your international property requirements. Currency Solutions specialise in the international property market and have a wealth of experience in helping individuals to buy and sell their homes overseas. They provide the best value for money on exchange rates, professional service and high quality information to take the stress out of managing your finances.
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If you have a home overseas, save thousands on your mortgage in exchange rates, prompt transfer of funds, and by fixing forward contracts which can guarantee you favourable exchange rates for up to 24 months in the future. Manage your mortgage without paying the commission and receipt fees major banks charge. The operating costs of Currency Solutions are covered in the exchange rate they quote you, there are no hidden extras.
Here is an example of how you can save:
Let's assume your monthly overseas mortgage is €1500 each month and you wish to pay in GBP£ fixed for the next 12 months. Your personal dealer will quote you one exchange rate for this period.
The savings you can expect: (On top of these you can expect to make more savings with preferential commercial exchange rates, not normally available to the general public).
12 x 3% (Saving on Bank commission) = £360
12 x £25 (Saving on Bank transfer fee) = £300
Total in 1 year = £660
Over a 15 year mortgage, you’ll save £9,900
Additional savings achieved when also receiving commercial exchange rate
In addition to these savings, having fixed a favourable exchange rate allows you to budget accordingly and insulate yourself against risk from fluctuating exchange rates.
So what are you waiting for?
Call UK 0207 740 0002 or Cyprus 26 813 613 or pop in to visit Currency Solutions today! Alternatively, send Currency Solutions an email at:
intl@currencysolutions.com
or visit the website. You find it on the Home page of www.yellowpagescyprus.com.cy
© ID Yellowpages Ltd.
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