New property purchase in Denia, Spain
Richard Bradfield
Why did you decide to buy an overseas property in Spain?
The family and I have been taking holidays for years in the region. We love the beaches near the nature reserve of La Albufera south of Valencia.
What advice would you give people thinking of buying overseas property?
Like any home purchase, you'll have the option of buying a resale property or one off-plan (which is basically a home that hasn't been built yet). There are advantages to both. Buying an off-plan property is often cheaper than buying an older home. This is because developers keep prices low at the beginning stages of development in order to get cash flow. In addition, these newer homes have to comply with strict regulations and building codes, something that an older property might be lacking.
When transferring your money what options did you consider?
My first stop was my bank. I then compared their rates with those of the other high street banks. I also spoke to my financial adviser and to some colleagues at work who’d already bought property overseas. Two had used HiFX and recommended I give you a call.
Why did you choose HiFX?
With HiFX the whole process seemed a lot more simple. One of your Private Client Team walked me through all the options and answered every question and concern I had. I particularly liked the way I could fix an exchange rate using a forward contract, thus knowing ahead of time exactly how much my instalment to the developer would be. The rates you quoted were also far more competitive than those given by the banks.
Since using you for my initial currency needs, I’ve begun transferring my Euro mortgage payments using the Regular Payments Service. The lack of bank charges was a huge attraction!