Overseas mortagage payments – how would an RPA work?
Let's assume that the repayments on your overseas mortgage are €1,200 each month*
|
|
High street bank |
HiFX |
| Exchange rate |
€1,200 @1.43 = £839.16 |
€1,200 @1.43 = £839.16 |
| Commission charge |
2% = £16.78 |
FREE |
| Transfer fee |
£25.00 |
FREE |
| Receiving fee |
0.50% = £4.20 |
FREE |
| Total you pay |
£885.14 |
£839.16 |
In this example, with HiFX you could save up to £45.98 each month or £551.76 every year. Over the typical life of a mortgage (15 years) you save £8,276.40 on bank charges alone!
*Figures are for illustration purposes only and may not reflect present rates and bank charges.