Spanish property is priced in Euros and many you might have funds in another currency like Pounds Sterling or US Dollars. This means you will have to buy Euros before you can buy your Spanish property. Buying Euros can cost you more than it need to if you are not careful about who you buy them from.
Let’s assume that you have your currency in Pounds Sterling (though the same applies to all other currencies like US Dollars or Swiss Francs), then the timing of your Euro purchase and who you buy them from can have a significant impact on the overall price you pay in Pounds Sterling.
Experience shows that many people both overpay for the Euros they need to buy their property, and take unnecessary risks with exchange rates once they have taken on a Euro exposure (obligation to pay Euros in the future).
Once you have bought a property in Spain, you may also need to make regular transfers to and from Spain, which involve foreign currency exchange. Even if the amounts are relatively small compared to the sums involved when buying and selling, they can still add up to a big number over time. Many people regularly overpay for foreign currency when making small transfers to and from Spain.
Using a Currency Broker can save you thousands of euros and having worked with multiple companies we can recommend you with one of our trusted partners to give the best possible service for property buyers (and sellers) in Spain. After all, your property purchase depends on it.