So, you're serious about buying abroad? A word to the wise... "Watch out... there's a banker about!"

You probably won't believe me when I say this but... "It's never too soon to consider the money side of things"....that's the funding and foreign currency exchange aspects of your overseas purchase...And (because I have a habit of 'going on') I'll just mention 2 examples from our experience of dealing with the financial side of property purchase in France... that make this 'never too soon' statement valid...

Example One: Foreign Currency

Foreign Currency Exchange - Don't do a 'Dave'
David B (the names have been changed to protect the 'innocent') exchanged his funds for purchasing his house in France using his High Street bank. Only after his purchase did he realise that doing so had cost him £9,000 more than was necessary. He was incandescent (well you would be) - But it was too late. He even considered suing them - but that would have just been throwing good money after bad. So - there's a sobering thought. It all comes under the heading of 'Caveat Emptor' (let the buyer beware).
A dedicated Foreign Currency Exchange specialist could have offered a better informed (and much more economic) choice...and save you (and Dave) between £3,000 & £4,000 on every £100,000k!!

...and beyond...

Example Two: Mortgages

Mortgage Funds - A Cautionary Tale
Mary & Derek D (It's sad that the 'bad' experiences of others have to become examples to the rest of us). They were thrilled at finding their house in Normandy and, the day after arriving back in the UK., began organising their mortgage to cover the shortfall in their funds on that 'must have' house. Nothing wrong there - BUT, mortgages arranged with lenders in France are typically (but it has varied over time) 2% lower than in the UK. Two percent can make quite a difference over the period of even a relatively small loan. You'd be right to think that borrowing to buy a French property can be done more simply (and cheaply) in France - But you just need someone over there you can A. rely on and B. 'Speaks' your language - am I right?...

...and in English...

I hope you'll explore the links above for both Mortgages & FX and a range of related services ... and... Not a Banker in sight!...