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Buying property abroad?

Posted by on March 26th, 2024.

If you’re taking the plunge and investing in an overseas property you’ll want to make your funds stretch as far as possible. How you choose to exchange the currency required for your purchase can make a big difference to your budget.

Buying a property in your home country is stressful enough, but throwing language barriers, unfamiliar regulations and exchange rate fluctuations into the mix can really add to the headaches involved.

For one thing, exchange rates are always moving and in the months between making an offer on a property and completing the purchase, a rate could shift by several percent.

Our currency experts, market updates and specialist services reduce uncertainty and help you secure a great rate for your transfer. The potential savings could be enough to renovate or furnish your new home.

Case Study


Simon and John, a couple in their late 50s, had always dreamed of retiring to Portugal. After years of hard work, they were finally ready to make their dream a reality. They had saved diligently over the years and had a substantial amount of savings earmarked for purchasing a property in the Algarve region of Portugal. However, the GBP/EUR exchange rate was trading at a multi-month low at the time and the couple still had time to hold out for a better rate.


The couple had heard positive things about TorFX from friends, so they signed up for an account and were assigned a dedicated account manager who was able to guide them through their options. After discussing their hopes of securing a more favourable exchange rate, their account manager suggested using a Limit Order. This would allow them to set a target exchange rate, and if the market reached that rate, their transfer would be automatically executed at that price.


A couple of months later, the GBP/EUR exchange rate spiked above Simon and John’s desired level, before quickly falling back again. Fortunately, as the couple had taken out a Limit Order their transfer was executed the moment their target rate was struck. Meaning they didn’t miss out just because they weren’t watching the currency market every day.

As the couple had targeted an exchange rate a couple of cents higher than it was when they were first considering moving their funds, their transfer was worth thousands more than it would have been.

Simon and John continue to use our online service and app to transfer money to Portugal quickly and conveniently whenever they need to pay for utilities or cover property maintenance costs.

If you’re buying a property abroad and would like to discuss your currency options please contact our team on +44 (0) 1736 335 250. Alternatively, you can create a free account in minutes and start checking live exchange rates 24/7. 

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