The road to buying property abroad can be a tricky one to navigate. There are many factors to take into consideration before final agreements can be made.
Getting it right requires a lot of research into location, property, budgets and payments, as well as an understanding of local rules, regulations and taxes.
Seeking advice from qualified professionals is crucial and will protect your long-term interests. In essence getting it right requires a good lawyer, an estate agent and a foreign currency specialist such as No1 Currency.
Use a good Lawyer:
Legal procedures involved with overseas purchases will vary, for example in Spain previous debt on a property can end up being inherited by the new buyer. So, it’s essential that your lawyer is impartial and has a good grasp of English as well as the native language, to deal with the endless stream of rules and regulations.
Use an Estate Agent:
Prior research is vital and estate agents are also a good source of advice and will have sound knowledge of the property market in which you hope to invest. It’s important you make sure that all information you receive is accurate and that your estate agent is officially registered and holds a license.
Use a Foreign Currency Specialist:
When transferring money overseas, using a currency specialist such as No1 Currency will not only save money but can protect your future mortgage repayments from currency fluctuations.
High street banks can charge up to 4% or more on exchange rates than a currency specialist. That works out as an extra £4000 on a £100,000 transaction. Banks often add further charges including commission fees and transfer fees.
A foreign currency specialist, like No.1 Currency promises bank beating exchange rates, transferring your money securely and providing expert guidance completely free of charge.
