Buying property in Europe

The past six months have seen extreme volatility in the currency markets, with investor sentiment swinging wildly from session to session and on many days, from hour-to-hour which has had a significant effect with clients purchasing property in the EuroZone. These variations in market participants’ appetite for risk have been primarily driven by events in Europe, where Eurozone policy-makers have struggled to convince the markets that they have the policies to deal with Greece and Italy’s burgeoning sovereign debt crises. 

 A specialist broker such as TorFX assists their clients with timing the execution of their trades by keeping them updated with market information and news on key data releases which drive the market. When the time comes, TorFX will exchange clients’ funds at market-leading rates and arrange the currency transfer.

The upward movement in the GBP EUR rate provided UK citizens purchasing properties in France, Spain, Italy and other European countries, with the ideal opportunity to lock-in a top-of-the-range exchange rate. Many UK-based clients purchasing European holiday homes or planning a new life abroad, who had been biding their time, executed their currency transfers shortly after the beginning of October, minimising the Sterling cost of their properties. TorFX gained significant appraisal from many clients for providing them with their bespoke opinion and saving them large amounts which would have otherwise been lost.

It isn’t uncommon for TorFX to save clients several thousands of pounds on a £100 - £200,000 property purchase in Europe for example. Just from working with the client, sending them daily currency updates, managing their risk and transferring their funds at the right time when it suits the client, not the bank, has been paramount to their success to date. 

TorFX provide each of their 25,000+ private clients which their own dedicated personal account manager who looks after their requirements from their initial registration to their transfer of funds. This bespoke level of personal service last year gained them the title of ‘European Currency Broker of the Year’ in an internationally recognised publication as voted for by expats.

Source: TorFX