Retiring abroad 'made easier by specialist foreign currency brokers'

Specialist foreign currency brokers can help Britons achieve their dream of retiring abroad, one firm has suggested.

According to property website BuyAssociation.co.uk, living costs for expats who live abroad in European countries are likely to have risen as the euro has reduced in value.

But those considering retiring abroad can find their financial situation eased by using a specialist foreign currency broker, suggests Paul Collins, property editor at the portal.

"Obviously, be clever with how you deal with your currency and use a specialist currency broker to make sure that you're not paying over the odds on the exchange rate," he stated, adding that many such brokers offer regular payment schemes.

Additionally, those thinking they may not be able to afford to emigrate should be aware that foreign exchange rates always fluctuate, meaning that current low values could be a temporary thing, Mr Collins advised.

Despite the pound weakening against the euro, findings by HSBC Bank International Expat Explorer Survey 2008 showed that expats end up spending more on food in their new place of residence.