Cyprus property and currency transfers
Transferring funds when buying a Cyprus property, whether it be a cash sale or a mortgage or remortgage can be a costly business, with
bank charges, commission fees, exchange rate fluctuations, insurances and much
more.
We recommend you speak to currencies direct, a reputable international currency transfer operator with fast, friendly and efficient staff who work hard on your behalf for a better and quicker deal.
Currencies Direct pride themselves on providing good rates and
personal after care service, even free transfers for our clients. They offer excellent guidance on the volatility of the
currency markets and even hold the rates static for up to one year.
They will also be happy to purchase currency once it reaches a certain
rate that you specify. Once you make contact, you will be assigned your
very own currency dealer who will manage you account throughout your
transaction.
Remember, you will save pounds on your Cyprus property this
way so contact them today.
You can fix your exchange rate once you are back in the UK by using a recognised
currency broker. They will buy currency for you on an on the “spot” basis or on a
“forward” basis. This means that you are able to fix the rate of exchange
today, therefore knowing exactly what your costs will be when you come
to wire the funds over. be aware that due to currency fluctuations, the amount you actually recieve can go up or down, and it is a good idea to watch the currency for a few weeks before hand giving you an idea of the highs and lows. You do not have to provide the funds now in
most cases, just a deposit like 10% for forward trades. As you may only
have paid a reservation fee whilst in Cyprus, you will have agreed
terms of payment with the vendor. These are the dates you will want the
money sent out there. Our recommended currency brokers will not charge
you the cost, anything from £15 upwards, depending on the amount that you want to wire. The receiving bank should only charge a nominal amount
because the funds are in Cypriot pounds for credit only. Some banks do
not charge to receive funds to your own account.
By using a service such as this, we saved literally £1000 on commissions, fees and costs.
Mail us for further details of reputable providers.