Are you selling your holiday home?
Selling your holiday home? Save money on your repatriation
The rising costs in the UK and the knock-on effects of Brexit are causing many to sell their holiday
homes overseas. Finding a buyer may have been difficult as the market has been slow due to the pandemic. However, there are cash buyers around, and the UK market is now coming back.
Now you have a buyer, what is the best way to transfer your money bank to the UK?
Banking costs overseas are relatively high, and generally, exchange rates offered aren’t competitive.
In the UK, we are used to all sale proceeds passing through the lawyer, which is very straightforward.
However, if your seller purchases the property with a mortgage, you may also be paid by a banker's draft. This banker's draft can be deposited into your local euro account, allowing you to take control
of the cost of exchanging your euros into pounds.
Giving your lawyer power of attorney will allow the sale to proceed without your physical presence if
you do not wish to travel.
In some cases, lawyers stipulate that funds need to be paid into an account in your name. This may limit your option of providers. In this instance, Spartan FX offers you accounts in your name to make the process of receiving funds from a lawyer or notary hassle-free.
By using Spartan FX, a currency specialist, you will benefit from:
1. Competitive exchange rates
2. Fast and secure payments
3. No transfer fees
4. Personal Telephone Support
5. Named accounts that accept funds from lawyers and Notaries
Article by Sarah Davie of Spartan FX - Official Currency Partner to KipperTree.
To contact Sarah for all of the facts regarding transferring monies overseas click here