A currency strategy – why on earth would someone need this?

Simple really. When you buy a UK property you know exactly how much you will need to pay for the property and as such you can plan accordingly.

With a foreign property you will have to pay in another currency; for example euros or US dollars, which means changing sterling into that currency at a specific exchange rate. However, that exchange rate moves every minute of the day and sometimes the movement can be quite dramatic. You will have used the rate on the day that you first thought of buying…If the exchange rate moves against you, you can suddenly find that you need a lot more sterling to buy your foreign currency and pay for your property than you had originally envisaged.

Hence the need for a currency strategy which will allow you to target exchange rates, focus on timing and secure a favourable exchange rate when available. The currency strategy will take a lot of the risk of increased costs out of the equation and at the same time reduce stress which is always welcome!

The best way to develop a currency strategy is to talk to a currency expert and discuss all the different permutations that are available to you. You will then be able to make an informed decision about your currency transaction thus minimising your costs…and your stress level.

Get your free currency report from Smart Currency Exchange at: http://www.Smartcurrencyexchange.com/freereport1.htm

Kim
The Overseas Guides Company
http://www.Overseasbuyingguide.com