When planning your Spanish purchase it is vitally important to plan the timing and movement of your deposit monies from the UK to Spain – maximizing exchange rates makes your money go further.

Planning ahead

Timing is crucial when exchanging large amounts of currency. Planning ahead can save significant sums of money. If payments are left to the last minute you will have to accept the rate the market offers that day.

A recent survey showed that UK buyers using banks (not foreign exchange companies) collectively wasted £413 million sterling in 2006 (source AIPP).

For market-leading exchange rates and transfer facilities, we recommend Moneycorp.

Moneycorp is an international foreign exchange and payments specialist whose currencies expertise will get you the best commercial exchange rate available, thus making your money go further. Examples of exchange rate planning are:

Forward Payments

Here you can fix an exchange rate at the present time on a payment you are planning to make in the future (up to 2 years in advance). Forward contracts can protect you from adverse exchange rate movements and help you lock in to a favourable exchange rate – even if the funds are not available at the time.

Spot Payments

Here you can buy or sell a currency which you need immediately to make an international payment urgently and are purely looking for the best exchange rate possible.

Limit Orders

Here you set a target exchange rate at which, if achieved in the market, it will be bought on your behalf. Usefull if you have upcoming payments but not restricted by tight deadlines, giving time to achieve a better exchange rate than available at the current time.

Stop Loss Orders

Here you can set a minimum exchange rate which, again if achieved, will be bought on your behalf.

With over 30 years experience and offices in both the UK and Spain we are uniquely placed to assist you with your currency exchange and any mortgage requirements you may have.