Exchange Rates Can Make or Break Your Budget

Buying a property in France can be an exciting venture. Deciding the region where you would like your French house to be located is one of the first and more challenging decisions to be made with 22 regions to choose from.

Deciding how much you can afford to spend is also tricky. Whether you need a mortgage or you can afford to pay cash, you will need to establish your budget and to do so you will need to bear in mind all the costs involved in the purchase, being the most obvious the taxes and the Notarie fees.

However, not all the potential buyers identify at this stage a very important cost that could affect the final price for your property. In fact it could make or break their budget. It is not a surprise that foreign exchange is often called the hidden cost in overseas property transactions.

In order to understand the real importance of the foreign exchange element in the price of your property it is worth it to have a look at how the GBP/EUR have been fluctuating this year.

Getting familiar with the rates at the early stages of your search will help you understand how they fluctuate. Registering with a foreign exchange specialist does not involve any cost or obligation, plus you will receive free guidance on the markets and have access to different tools to control that volatility. From receiving market updates to fix a rate in advance or try to target a specific rate that suits your budget.

At moneycorp we have been helping thousands of buyers with their purchases abroad to make sure that foreign exchange is not an added cost.

Opening an account for them is really easy and free of cost or obligation and with FrenchEntree there is no transfer fees on your payments. 

What to do next?

You can contact them today on 020 3773 6355 or open an account with no cost or obligation by clicking here. Alternatively you can find more about moneycorp by visiting the FrenchEntree currency page.