Commercial Finance Specialists

Investing in overseas property is now becoming more accessible than ever for those wanting to invest in property and diversify a property portfolio.

According to currency specialists FairFx, a report earlier this year revealed that the four most popular foreign property destinations for Brits were Italy, Spain, Portugal and the United States.

The fluctuating pound against the euro and the dollar could make foreign currency mortgages in these countries much more expensive. According to FairFx, sterling has traded between 1.67 and 1.53 against the dollar, and a €250,000 property in Spain would have cost £13,000 less to buy on the 10th August this year than on the 10th January.

FairFx.com allows customers to buy or sell currency at a fixed rate for up to two years in advance, offering security against adverse currency changes.

If the foreign investment property is purchased via a mortgage to be paid monthly, then investors can benefit from the online services offered by currency specialists.

Unlike banks, which typically charge £20 per transaction for overseas payments or transfers, MoneyCorp charges £4 per transaction, while FairPay does not charge at all. FairFx users can now transfer to Australia, New Zealand, Canada and Switzerland as part of the FairPay system.

Overseas property may be a more attractive investment if the management of a foreign currency mortgage is much easier and less expensive. Can we, at B2B Mortgage, help you broker the right deal? Contact B2B Mortgage today to see we can help you arrange a foreign currency mortgage for your overseas commercial property or holiday home.

Lisa Fear