One important thing international buyers should consider when buying in Canada
June 25, 2019
At every stage of the buying a overseas property, there are ways you can save on the overseas payments you will need to make for your property. By enlisting the help of a currency specialist, such as our recommended partner, Halo Financial, you gain access to a wealth of knowledge and experience, saving time, money and hassle.
When it comes to exchanging Canadian Dollars into US Dollars or Pounds Sterling, Halo Financial can offer very competitive rates. A saving on the exchange rate of, say, 4% can mean a difference of CAD 20,000 on a CAD 500,000 property.
Halo’s currency consultants can monitor the currency markets and let you know how they are moving, as well as alerting you to upcoming political and economic news that will affect future exchange rates.
Your currency toolkit
There are ways you can protect the price of your property at the very start of the buying or selling process. A currency tool called a Forward trade lets you set the exchange rate when it is favourable for a future planned payment, at a time that suits you, so it will not change by the time you come to pay for your property.
If there is an exchange rate you have in mind and the rate hasn’t quite reached it yet, there is also another tool available called a Market order, where you can place an order for a specific exchange rate and then make your currency transfer when it hits that rate.
If you have other big overseas transfers on the horizon, for property bills, a mortgage, or perhaps for pension or salary payments, a qualified currency consultant can help with those, too. You can save on regular currency payments by forward planning, setting the rate with a Forward trade, or simply by avoiding banking charges. It’s one less thing to think about!
A qualified currency specialist can talk you through the different tools and strategies available to you to ensure you are maximising your money for your
Canadian property sale or purchase.
Find out more – Contact Alan Williams at Halo Financial today!!
Tel: +44 (0)207 350 5473