When purchasing a property in Spain you must do so using Euros and not British Pounds or any other currency. Therefore you will at some point need to exchange your currency.

The Importance of Currency Exchange When Buying a Property in Spain

Currency exchange rates can significantly affect what you are able to afford. Rates are always changing and in a volatile market, can differ from one day to the next. This could mean that one day you can afford your dream home and the next day, you can not. Therefore, it is important to do your research before making any financial commitments. It could save you thousands of Euros.

For most of our clients, their first instinct seems to be to go directly to their bank, thinking that as loyal customers they will get a good rate. However, this is not usually the case. Banks tend to take advantage of such individuals, who use them for this service without first checking elsewhere.

Generally, the best starting point is to look at using a company that specialises in foreign currency exchange. There are many advantages to this and you could save as much as 5% compared to using your bank.

Currency Exchange For Spanish Homeowners

Not only is currency exchange something you need to be aware of for the initial purchase of your property, but it may be of importance moving forward depending on your personal circumstances.

If you are planning to live in Spain, chances are you will need to move money from the UK to your Spanish bank account on a regular basis. Whether or not this is your monthly salary or a pension, the rate you receive could make a big difference.

There are different ways you can choose to transfer your money to ensure you receive the best rates possible. Many don’t know that you can set your funds to automatically transfer when the exchange rate hits a certain figure.

How Movehappy Can Help

At Movehappy, we will be with you every step of the way throughout your journey buying a property in Spain. We are here to help you with any questions you may have about currency exchange and will ensure you get the best deal possible.

Managing your money and currency exchange does not need to be a stressful experience providing you do your homework.

Not only will we assist you with exchanging your funds for the initial purchase, but our dedicated aftersales team will be happy to help you moving forward as you settle into your new life as a Spanish property owner.

SAVE even more money by using our specialist currency exchange company.

Contact us today