Cosmic Villas Euro Exchange
Telephone: +44 20 8838 4466
To Arrange a free no-obligation consultation, please click HERE.
Our exclusive partner for Foreign Exchange
When you buy an overseas home for investment or personal use you will need to perform one or more currency transactions. Some people would simply contact their bank and instruct them to buy their currency for them. However, there are potential huge savings to be had by speaking to a “specialist currency broker”. Although no one can predict future exchange rates, HIFX has consistently been ranked by Reuters as one of the top five most accurate currency forecasters in the world. Our focus is on educating you in the currency you need to buy, securing you the best exchange rate and then transferring your funds free of charge - making the whole process as simple and cost effective as possible.
Why is understanding about currency volatility so important?
At HIFX we understand that buying or selling significant amounts of currency can be a new and daunting prospect. It is essential to understand that when you agree to buy property abroad that you are exposed to ‘currency risk’. Ignorance could cost you thousands of pounds! The following example illustrates an avoidable and unnecessary increase in the cost of a property: If you had agreed to buy a property, priced at €200,000 in June 2005 (when the GBP/EUR exchange rate was 1.50) it would have cost you £133,333. Had you neglected to fix the exchange rate at the time, that same property would have cost £139,860 by the end of July, an increase of £ 6,527 or 4.7% in 4 weeks.
Customer service and efficient processing
With 7 years experience helping clients to buy and transfer currency for a property abroad, HIFX understand your needs. We also appreciate that each client is different. That is why we will give you your own personal currency dealer who will take the time to listen and help you at every stage. Saving money on the exchange rate is only a small part of the service we offer; timing and good communication between all parties is also essential.
'Spot' and 'Forward' currency contracts
If you need to buy currency you simply agree an exchange rate with your HIFX dealer; with more time you could ask him/her to monitor the market and call you at a ‘target’ rate.
However, if you are worried that future exchange rates might increase your costs but you are not in a position to buy currency yet, you can fix a rate via a ‘forward currency contract’. To do this you only need to have access to 10% of the funds initially. It is simply a mechanism to “buy now, pay later” where you are no longer exposed to currency movements.
Regular payments abroad
Once you have bought an overseas home you may need to send regular currency payments to pay for an international mortgage, transfer your salary or even your pension if you are relocating permanently. HIFX can fix one exchange rate for 6, 12, 18 or 24 month’s worth of payments. You will then know the exact cost of all mortgage payments or the exact amount of currency your salary or pension will realize; simplicity and peace of mind!
European Buildings and Contents Insurance
HIFXplc has established a new insurance division to assist clients buying European property. The Norwich Union policy is in plain English and is competitively priced. HIFX Insurance Services are regulated by the UK Financial Services Authority.