If your holiday abroad develops unexpectedly into a property buying trip, one thing you’ll need to organise is how to send money overseas safely, quickly and cheaply. Fortunately, as new homeowners in Spain the Obornes found out, Smart Currency Exchange are ready to help out…
As often happens with overseas property-owners, David and Karen Oborne found and decided to buy their second home while on holiday in the Costa Blanca, meaning they had to organise the purchase before flying back to the UK, which included making contact with London based Smart Currency Exchange.
The couple, from Ascot, had been recommended using a currency specialist to make transfers between their UK and Spanish bank accounts by their Spanish estate agent, enabling them to get a better exchange rate than if they simply left it to their bank to send euros to Spain. Their estate agent also helped them to open a local Spanish bank account and get their tax identification number (NIE) before they returned home to the UK.
So when the Obornes were ready to complete the purchase of their Spanish home, a transaction that was worth €83,000 plus buying costs, they asked Smart Currency Exchange to transfer euros to Spain.
Said David: “Our first transfer with Smart was a small amount for the second half of the deposit and the second was to cover the remaining sale balance, plus extras. For the second transfer we forward purchased euros to safeguard ourselves against an expected fall in Sterling – it meant we knew exactly what it was going to cost.
“Also great was the flexibility of being able to build up the money in our account and then transfer funds when the account was ready. Smart were helpful and made it all easy – we would have found it more difficult to do it all without their help.”
A three-storey townhouse in Punta Prima, the Obornes’ property is a 15-minute stroll from the beach, with access to a communal pool and gardens. It has three bedrooms, three bathrooms, terraces and balconies, and sea views from the top floor.
“We’ll use it as a holiday home, probably visiting every six weeks or so, and also invite family and friends to stay,” added David. “Previously, we’d always booked self-catering places for holidays, but were never completely satisfied with the accommodation – now we have somewhere to make exactly as we want it.”
If, like the Obornes, you are considering a property purchase in Spain or permanent move there, opening a no-obligation account with FCA-authorised Smart Currency Exchange will enable you to benefit from their competitive exchange rates and specialist currency knowledge, ultimately saving you money and time. For more information, download Smart Currency Exchange’s free report or visit the Currency Zone.
For more information on buying property successfully in Spain, download the Overseas Guides Company’s free Spain Buying Guide – and start receiving free news updates by email. Or to see property for sale all over Spain, visit Rightmove’s Spain listings.