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Whether you are buying a property abroad for investment, retirement or holidays at some point during the buying process you will almost certainly have to exchange large sums of money into a foreign currency. Many people automatically turn to their bank for this foreign exchange not realising that alternatives are available. However, poor exchange rates, high transfer fees and commission charges all eat away at your money and mean that using your bank could cost you dearly. However, by using a foreign exchange specialist you can get more of your money time after time.

As an alternative to your bank, a foreign exchange specialist is able to offer you extremely competitive exchange rates, no commission charges and lower transfer fees. This can mean considerable savings on your transfer when compared to using a bank. In addition a foreign exchange specialist will talk you through every step of the currency buying process making sure that you are kept informed of any changes in the market that may affect you.

Due to the volatility of the currency market exchange rates are constantly changing and vary from one day to the next. However, there are various options available to help you get a great rate. Buying options include spot deals, forward contracts and limit orders, many of which are usually not available to private individuals through a bank.

Spot Deal – If you need to transfer money quickly, this option will give you the best rate available right now and guarantee it.

Forward Option – If you’ve got a purchase date agreed or payments due on given dates, you can fix a rate for up to 2 years. This allows you to protect yourself against any movements in the market.

Limit Order – This is used when you want to achieve a rate that is currently not available. You set the rate that you want and the market is then monitored. As soon as that rate is achieved the currency is purchased for you.

Regular Transfers – Whether for mortgage payments, maintenance expenditure or transferring pensions or salaries, a regular transfer plan can offer you commercial exchange rates, no commission charges and free transfers.

If you haven’t had to deal with these sorts of transactions before it can seem a little daunting, that is why at Lacey & Co we recommend the services of Currencies Direct, a market leader in foreign exchange.

Offering a tailored service to each client, you will be assigned a dedicated dealer to talk with you, as often as you require, about up-to-date movements and general predictions on market fluctuations – in plain English! Offering competitive rates for all major currencies they will identify the best opportunities for you and your money. With no charge for registering, no obligation and no commission fee, Currencies Direct offers a stress-free method of transferring funds promptly and accurately.