Expat Health Insurance News: Forex value 'key to foreign property purchase'
03/03/10 13:00
Expats considering a move overseas should make sure they research the best interest rates on foreign currency ahead of time, experts have claimed.
According to Send Money Home, foreign property buyers can save as much as five per cent by choosing the best currency dealer, potentially knocking thousands of pounds off the cost of a new dream home.
"Whether you are buying, selling or investing in property abroad, the avenue you choose for your foreign exchange transfers is very important in order to maximise the value of the currency you're sending which will ultimately save you a great deal," the currency dealer said.
As an example, the company pointed to Mr and Mrs Raymonds, two UK residents living in Australia who were able to save a colossal £17,837 by choosing the best currency exchange rate.
Researching currency exchange rates may be particularly important in today's environment, as many currencies have seen sharp fluctuations in response to tumultuous economic conditions.
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