Let us not forget those looking to purchase a property abroad – for they face a lot of challenges, one of which is the safe transfer of money.
Currencies Direct is one of Europe's largest independent foreign exchange specialists, and was one of the first to recognise the need in the market for an expert secondary foreign exchange provider to traditional banks.
My First Home Interviews Currencies – Direct The following questions were presented to Currencies Direct – In particular, for those looking to purchase a property in a foreign country.
What is Currency Direct and what would you say are your core competencies?
How do you provide value to those who wish to purchase property in a foreign country?
How do you hedge against currency fluctuations and losses – most especially property based transactions – e.g. – monthly based mortgage payments, property bills and income?
[success]Currency market are very very volatile at the moment – with interest rates at or near zero across most of the developing world – a lot of the volatility that you find in the market is concentrated in the FX markets at the moment. So to hedge against any losses, currency direct can help you in a couple of ways – first of all say you're buying property abroad, and you expect the exchange rate to come against you may begin fluctuates in the coming months and you could lock a rate now and pay later – it is called a forward contract and it is very simple, and easy to use – a contract because the direct office makes sure you're getting a very good exchange rate.
What guarantees do you provide – if any?
What tips can you provide for: The individual or party looking to invest in property abroad for the first time?
The seasonal investor with a multiplicity of investments around the world?