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Nothing’s going to stop the British loving their Spanish homes!

It will take a lot more than Brexit to end the British love affair with owning property in Spain. While the pound-euroexchange rate has fluctuated considerably over the last 12-months our desire to own our piece of the Spanish dream has remained resolute. This goes to show just how much the Brits value our precious dose of winter sun, and just how convenient Spain is for achieving this.

In the first half of the 2016 the British were the largest group in the Spanish foreign buyer market, with a 20% share. Since the historic vote in June there are no concrete signs that the ever-faithful Brits have or will abandon their perennial favourite destination.

Instead, value for money has become increasingly important to property buyers in Spain as they begin to juggle the many practicalities of buying overseas: from financially planning for the move, to all of the legalities involved. Click here for a free and comprehensive guide to buying property in Spain.

Value for money may seem an obvious requirement, but it has been brought into sharp focus by the pound’s rapid drop in value against the euro following the referendum (a development that perfectly demonstrates how one currency’s relationship against another is often at the mercy of a political announcement or economic data release). If you are planning to join the Spanish property market, these exchange rate fluctuations can complicate setting a budget for your purchase.

Thankfully, help is at hand. Smart Currency Exchange, MoveAgain’s currency partner, has been helping people buy property in Spain for over a decade. Smart provides a bespoke service by assigning each client a personal account manager. Rather than having to call an anonymous call centre, this dedicated expert can supply you with invaluable market guidance that can help you make informed decisions around the optimum time to make your transfers.

They can explain how a forward contract can be used to solve any budgetary concerns stemming from the Brexit fallout. This allows you to secure an exchange rate you’re happy to trade your currency at for up to a year – so you’ll know how much your property will cost when the time comes to transfer the funds for the payment.

As a specialist in the field of international currency transfers, Smart are also able to offer exchange rates that are typically 1-4 percent more competitive than a high street bank. That could equate to a saving of £4,000 on a transfer of £100,000 – extra money in your back pocket that can be put to good use covering your legal fees, or paying for any renovations.

For more information and to see how much you could save call 020 7898 0541 or click here for a free quote with no obligation.


 

Nov 25, 2016 | 587 Page Views

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