A word of advice for International Buyers
Mallorca remains one of the most desirable destinations in Europe.
It’s little wonder then that our property market attracts buyers from all around the world.
At Kensington Finest Properties, we serve a truly international clientele.
One of the aspects of purchasing property for overseas owners that is often overlooked is currency exchange.
Spanish property is priced in Euros and many overseas buyers will need to convert funds from another currency like Pounds Sterling into Euros before they can complete their purchase.
Given the typical size of property transactions, it’s important to consider the cost and timing of the currency transfer needed.
Getting these elements right can have a significant impact on the overall price you pay for your property.
Experience shows that many people both overpay for the Euros they need to buy a property in Mallorca.
Specialist currency brokers and banks are the main suppliers of Euros to overseas buyers. Both currency specialists and banks buy their Euros from the international currency market, add on their margin, and then sell the Euros on to you.
Many people will simply buy their foreign currency from their bank not knowing they have a choice. However, banks are known to give you the worst exchange rates on the market.
The best place to buy Euros is normally through a currency specialist. A currency specialist does not carry the same overheads as a bank and can therefore offer much more competitive exchange rates.
Not only that, a currency specialist can offer a personalised service and expert guidance on the timing of your transfer. This alone can save clients significant money and give greater peace of mind.
At Kensington Finest Properties we are proud to recommend Key Currency as our trusted currency partner.
Key Currency will ensure our clients receive preferential exchange rates and the first-class service you naturally expect.
Key Currency is an FCA-Regulated Authorised Payment Institution and as such, all money transfers are conducted through safeguarded and ring-fenced client accounts. As such, your money is totally secure and protected.
Whether you need to make a one-off transfer or more regular payments, Key Currency can help make the process of moving money overseas simple and cost-effective.
To get in touch with Key Currency call Vicky Vich on +34-689990096 or get a free quote in the footer of this page