buying a house - converting to Euros

[caroline]

Hello

I am hoping to buy a small house and need to find the best way to convert from sterling into euros, for the total sum. I read that currency convertors are the cheapest way to do this, but I dont know any, and I only read one article on the subject. Can someone with some experience please give me some ideas or direction ?

thank you

[DerekJ]

Caroline.  Prior to starting our house hunting we set up agreements with two of these companies.

Halo Financial  http://www.halofinancial.com

and

FC Exchange http://www.fcexchange.co.uk

They both offer pretty identical services which allow you not only to exchange at reasonably favourable rates but also to prebook money in advance at a set exchange rate.eg. When paying your initial deposit on the house, you can book the same exchange rate for the balance by paying 10% of the remaining amount upfront to hold the exchange rate.This may or may not be in your interest depending on what exchange rates are doing but it does give you the security of knowing that the cost will not be more than the exchange rate you agreeing on.

I should clarify that because we pulled out of the purchase of the house we offered on we haven't as yet put their services into use.

The initial contract set up is very easy and costs you nothing and you are not committed to use them. The people I spoke with were very helpful and explained things quite openly.You do need to set up a contract in advance so that when you need to actually process the money things are ready to go.

Hope that helps.

 

 

[cartref]

Hi Caroline,

I used HIFX one of the top companies. As a single lady of a certain age [:(] I needed someone who talked me through the whole procedure. It may be that you are intending to use these companies for the first time. I can't fault HIFX for their help and consideration throughout. Communications were also excellent which was comforting to a 1st time user.

Good Luck

cartref

[makeiteasy]

Hi caroline,

 

i recommand you 2 companies: Currencies direct that you could reach at [email protected] or Moneycorp (contact Wendy Bundock) at http://www.moneycorp.com/call_requestCustom.cfm?referringAgentID=10082993 .

They are both very efficient and helpful.

Kind regards.

[PaulT]

I did use Currencies Direct for both the deposit and final payment.

The final payment I was phoning around for the best rate and has www.4xcc.co.uk on screen with their rates.

Currency Direct quoted a rate and I obviously sounded uninterested. I was asked if I was just researching or going to buy. I said that I was buying that day and quoted the 4xcc rate. Just a minute and the chap came back with a far better rate.

The moral - haggle

[caroline]

Thank you for all this information, invaluable as it is, I shall now be able to ask a few questions of each to see which one makes most sense to me.