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Thinking of buying a home overseas? You’ll want to read this first.

Thinking of buying a home overseas?  You’ll want to read this first.

For many of us, buying a home abroad is a lifelong dream.  But, it’s also something that few people will have done before, or again.  

There are lots of things to consider beyond finding your new home, from getting the right removals company to understanding how to access healthcare overseas.  And, one of the things that few people really consider are the implications of moving their money from the UK to their new country of residence.  

It’s not just the initial lump sum to secure your new home you need to think about.  One-off international payments like that are fairly straight-forward, and most people would probably feel comfortable arranging them through their bank.

But, then there are fees – lawyers, surveyors, freight costs, mortgage fees and even charges to connect your utilities.  And once you’ve bought your new home, what about the ongoing flow of funds that are part and parcel of living or working abroad?  Mortgage payments, bill payments, pension transfers, salary repatriation.  All of these payments, be they one-off or ongoing, can and will be subject to currency exchange.  Which means that inevitable fluctuations in the exchange rate will impact the value of your money.  Without proper planning, it can quickly become an expensive, time-consuming and stressful experience.  

Which is why finding a specialist partner, like Currency UK with the experience and foresight to help you navigate this new reality could make all the difference. Not only can we offer competitive rates on foreign exchange, but also access to an easy-to-use, online account to manage all your transactions and an Account Manager who can guide you every step of the way. 

Read more about how we can help you plan and manage moving your money abroad.

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