Last week presented a great opportunity for those in need to exchange pound into Euro. In fact the currency pair went above the 1.13 level and with it the best exchange rate since May 2020.
Despite the lockdown, the number of infections and the recent threat of various mutations, there is still hope that the vaccination campaign would be successful and bring this pandemic to an end.
And this is the feeling feeding the global investor sentiment too and supporting currencies like the Sterling this week.
These rate movements can trigger an important savings for those in need to exchange their pounds to pay for their property in France.
How can you take advantage of favourable rate movements?
If you haven’t done so yet, you should get in touch with a foreign exchange specialist who knows the market inside out, and have tools to make sure you are kept up to date and can take advantage of a rate move. Opening a trading account with foreign specialists such as moneycorp is simple and more importantly free of cost or obligation. Once registered you would have instant access to a variety of tools and the guidance of an expert personal dealer to help you plan to make the most of your money:
Currency updates– Sign up to receive daily updates on the rates and even rate alerts to make sure you don’t miss any opportunity. We monitor the markets, so you can focus on what matters.
Watch order– If you tell us what your preferential rate is we would watch the markets for you and notify you of any relevant fluctuations to your currency.
Market order- You could target a rate of exchange and if the rate moves to that level we could buy the funds for you automatically.
Forward contract- This allows you to fix a rate of exchange in advance of a payment –up to 2 years. This tool is very popular among property buyers as allows them to fix the whole price of the property ahead of completion giving them the peace of mind and the certainty of how much they are going to pay for the property. Also it can be a great way to take advantage of a positive rate movement, and for future mortgage payments.(Please note forward contracts may require a deposit)
With a Platinum Trusted Service Award 2020 from independent review site Feefo and 40 years of experience in the industry, FrenchEntree has been recommending moneycorp for more than 15 years. During this time they have helped thousands of client planning the best way to pay for their property as well as supporting them afterwards with any further payment from paying bills, mortgages to repatriating UK pension payments for those who have retired to France.
Furthermore, we have worked with the same person at moneycorp for more than a decade! You might be familiar with her as she often writes for our FrenchEntree magazine. She has 13 years’ experience in foreign exchange, and is a qualified European lawyer with experience in European transactions. Mar will be happy to answer any questions or enquiries to support you through these difficult times
Opening an account is really easy and free of cost. You can register online or over the phone in a couple of minutes and for FrenchEntree there are no transfer fees in any payment.
Open a free account today by clicking here.
Contact moneycorp at 020 3773 6355 or send your enquires here.