Whether you've already found your dream home or are still looking, Capital IFX is here to make that ambition a cost-effective reality. Our trading facilities allow you to trade or fix the foreign money exchange rate on your purchase at the most appropriate moment, saving you money. Banks on the other hand quote only daily rates and offer uncompetitive exchange rates. The solutions provided by Capital IFX can reduce your costs substantially, leaving you with more money for other things. Our graph illustrates how the right advice on when to buy can save you £££’s.
In early September 2007 Mrs. X had found a house in Portugal for which she had a balance of €150,000 to pay by the 7th of January 2008. In the first week of November the Euro reached 1.4415 against Sterling meaning the property would have cost her £104,058.27. Instead of buying her Euros’ when Sterling was strong she waited until the property settled to get advice on her funds transfer.
When Mrs. X needed to make the final payment the Euro had dropped back to 1.3387 – a staggering 7.6% lower than what was available to her in September meaning her property cost £112,049, nearly £8,000 more than it would have cost her only 8 weeks earlier!!
Much of this loss could have been prevented by securing the rate with a Forward Contract. This mechanism is especially useful when market conditions are advantageous but the currency is not actually needed until a future date.
With a range of solutions to satisfy the most unique of situations you can be assured that our specialist staff will guide you hand-in-hand through the trading process so you can sit back and relax.