Foreign Exchange - Cutting the cost of buying property abroad

People buying property abroad often overlook the hidden cost of currency exchange. Payments are normally made in the currency of the country where you are buying, and small differences in exchange rates make a big difference to the end amount you pay.

For example, take a typical home in Spain at €200,000. On this amount, the difference between our rate and the high street banks is large: perhaps as much as €4,000.

Interchange helps private and business clients exchange and transfer currency worldwide. Our clients range from private home buyers to financial institutions to property management companies. If you have an overseas mortgage, an overseas job, or simply need to send cash abroad regularly, we can also help.

Personal service

At Interchange our clients often require a personal, proactive service that banks are rarely equipped to provide. For example, we allocate you a personal account manager who will advise you on the best exchange contract to choose and guide you throughout the transaction.

He or she can give you market information that is clear, concise and up-to-the-minute. They answer your queries and explain any aspect of the currency exchange process.You enjoy a level of service that banks reserve for their multi-million pound corporate accounts only.

How we do it

Direct currency exchange

You will find using Interchange virtually always cheaper than a high street bank. This is because we specialise in currency exchange, convert vast amounts of currency and are often able to cut out the middleman and strike direct reciprocal deals. This enables us to offer you a very competitive rate for any currency.

The bottom line is that banks and building societies take a greater percentage of whatever currency you are buying or selling than Interchange. They also exchange currency at whatever price is ruling at the moment of instruction. Our approach is to search the foreign exchange market to pinpoint the best rates available, so we can notify you when it is most advantageous for you to exchange.

Interchange can complete a transaction within hours of you placing your order and can confirm onward transmission of funds the same day you place your order.

Minimum and maximum transfers

There is no set minimum or maximum limit, typical exchanges start from £2,000 upwards.