Smart Currency Exchange can save you thousands of pounds on the purchase of your dream property in Portugal – just through the excellent exchange rates they can offer you compared to your local bank.

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When purchasing a property abroad, the idea of currency exchange does not often enter an overseas buyer’s mind until the day they have found the property they want. At this point, they will check the exchange rate to assess the cost of the asking price in pounds, and decide to buy at this point. Of course, the currency markets are live and continuously changing – which means that the rate they received when they first checked is unlikely to be the rate they will receive when they actually transfer the funds to purchase the house; a lot of money can be lost through this process.
 

The currency rates, therefore, have a sizeable impact on the price of your Portuguese property purchase. If you don’t agree the rate of exchange in advance, you will essentially be purchasing without knowing the actual cost of your property in sterling – with rates fluctuating by the second, the amount you think you need to pay for €100,000 on Monday may only buy you €95,000 on Wednesday. Over the course of weeks and months, this amount could change dramatically.

The best way to combat this is by signing up with a currency specialist such as Smart Currency Exchange at the very beginning of your process. Not only can they offer you bank-beating exchange rates that will save you up to 4% on every transfer that you make, but they also offer a number of tools and resources that can help you save money on your purchase. One of the most useful of these is known as a Forward Contract, which can be used to book an exchange rate for a purchase later. This means that if you know you are going to purchase your property in Portugal, you can book in your exchange at the time when rates are particularly good - and rest assured that you do not have to worry about the price changing by the time you come to complete your purchase, enabling you to plan with price certainty.

Smart Currency Exchange is a currency exchange specialist that is particularly focussed on the property market – and over the past decade or so, they have assisted many of our purchasers in the same position as Portugal Buying Guide readers; this means they have the necessary expertise to ensure that your purchase process is efficient, easy and cost effective.

Find out how much you can save and how! Call Smart Currency on UK: 020 7898 0541 to get a free quote.


Smart Currency Exchange Ltd is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (FRN 504509) for the provision of payment services. Smart Currency Exchange Ltd is authorised and regulated by HM Revenue and Customs under the MLR no. 12198457. The information in this report is provided solely for international purposes and should not be regarded as a recommendation to buy or sell. All information in this report is obtained from sources believed to be reliable and we make no representation as to its completeness or accuracy.
 

Further reading for Buying In Portugal

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Viewing Guide

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Hidden Costs

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Legal Matters

Buying a property in Portugal has very different legal requirements to the UK.
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