On Thursday 12th October, Smart Currency Exchange trader, Danny Cook joined Your Overseas Home for a 30-minute webinar designed to help international buyers better understand the foreign exchange (FX) process.
Your Overseas Home, like Smart Currency Exchange, is a company owned by The Smart Group.
The webinar was titled ‘5 key things a currency expert can help you with‘, and Danny shared a helpful presentation sharing his tips, tricks and insight to Your Overseas Home listeners.
You can watch the webinar on-demand below or on Your Overseas Home. Watch to the end to hear Danny answer live questions from the audience. Scan the QR code at the end of the webinar for a FREE quote with Smart Currency.
Alternatively, we have included the content covered below, if you’re short on time
What influences the currency market?
Currencies and the foreign exchange market fluctuate daily in response to a range of political, social and economic factors and data releases. Ones that are particularly influential include:
- Interest rate changes
- Inflation rate changes
- Budget announcements
In 2022 alone, the pound-to-euro rate fluctuated by 6% (which could equate to a £12,664 increase on a €300,000 home). The pound plummeted following Jeremy Hunt’s budget in late 2022 and soaring inflation was fairly influential.
This year, the euro, more so than the pound, has been influenced by advances in the Ukraine war due to its proximity to the danger zone. More recently, conflict in Israel have caused the euro to sway.
Looking ahead at data in the calendar that could be rather influential, we have the European Central Bank’s interest rate decision on October 26th and the Bank of England’s interest rate decision on November 2nd.
For support managing your currency risk, speak to your trader today on 020 7898 0541.
What can a currency expert help you with?
Having a trusted expert at the end of the phone, especially where large sums of money are concerned, gives peace of mind. Traders like Danny are experienced in helping hundreds of customers, just like yourselves, make the dream of buying overseas property a reality. In the webinar, Danny shared five key things that he can help you with:
- Help you to understand your budget.
- Understand your currency risk (and manage it effectively).
- Book in a Forward Contract – lock in today’s rate for up to 12 months.
- Book in Market Orders – when the market hits a certain rate, we’ll exchange your currency.
- Offer Regular Payment Plan – a useful tool for those with multiple homes overseas or multiple international payments.
For more information on any of the services Smart Currency Exchange offers, speak to your trader on 020 7898 0541 or register with Smart to be assigned a personal trader.
Your next steps
Ready to accelerate your plans to buy overseas safely and securely? Here are 5 next steps, from Smart Currency Exchange.
- Speak to a currency specialist.
- Understand your budget.
- Agree on a currency plan with your trader.
- Execute your plan and secure your exchange rate.
- Complete your overseas purchase & enjoy your new home!
If you’re interested in buying property overseas, please take a look at the Your Overseas Home website. They host regular seminars with experts in international tax, property law, visas and residency, healthcare and estate agents across Europe.
For advice on your overseas home purchase, speak to one of the property consultants at Your Overseas Home today by booking a callback.
