If foreign property is on your agenda in the near future, you probably don't need me to remind you that you should watch the exchange rates carefully. A slight slip on the date for international currency payments could end up costing you thousands of pounds – in fact enough to kit out your new villa or apartment with furniture or install a new kitchen!
There are many currency specialists who will assist in getting you a good rate and you should research thoroughly if you are making a large currency transaction to make sure that you get the best rate going. After all, you shop around for clothes and electronics, so why not the exchange rate when the stakes are even higher?
Many specialist companies allow you to prebook the rate to go through at a specific time (some up to a year in advance) and at a specified rate.
This takes the worry out of the rate as you know in advance what it will go through at – but these companies do not always offer the best rate this way.
Also, don't take at face value the rates you read on a company's website – if you are changing large sums of money many companies will negotiate a better rate as it is better for them to get a smaller percentage of something than nothing at all.
