house sale in europe, Euros back to pounds.

[cayman-black]

Thinking of selling a home in Europe and was wondering the best way to send Euros back to Pounds? Tia..

[goingonholiday]

How will you get the proceeds? Its normal to be bankers drafts in some countries. If that is the case check currencies direct. They sent someone from their local office to meet us at the notary (spain), we went to the bank, paid drafts in then they transferred to pounds at a good rate. If its electronic worth looking at transferwise.

[paulwirral]

Get the proceeds of the sale paid into your foreign bank account on completion then use a transfer company to get the best rate , you can wait for the fx market to come to you if your brave .
We did this and saved a few thousand euro compared to bank to bank transfer .
I've done it twice from sale of French property, I stayed on in a hotel in france after the sale for a few days until the balance was paid into my account and I could physically see it and give the bank notice of closing the account .

[cayman-black]

Thanks, Guys , so as i thought its best to use a currency trader,I am registered with smart currencies.
As i,m only used to changing the other way , the rate today is just under 1.18 does this mean they will rate it at around 1.19 ?

Edited by cayman-black on Sunday 9th February 12:01

[Sauce]

I’ve used TorFX for all of my GBP/AUD currency transfers. They give you an online quote before you confirm the transaction but the rate does improve slightly the more you transfer.

Takes a business day and have been very easy to deal with. Obviously I’m sure there are lots like them but might be worth getting a few quotes if you’re transferring hundreds of thousands of euros of house money.

[paulwirral]

Take a look at the euro rate on teletext red button of all things , ignore the tourist rate , and you'll get a pretty good idea of what exchange rate you'll get

[Marcellus]

cayman-black said:

Thanks, Guys , so as i thought its best to use a currency trader,I am registered with smart currencies.
As i,m only used to changing the other way , the rate today is just under 1.18 does this mean they will rate it at around 1.19 ?

Edited by cayman-black on Sunday 9th February 12:01

Nope 0.84748 if 1.18 is the mid rate, but you'll probably get closer to 0.8425 this morning!

[Kev_Mk3]

I've just sold a place in France and transferred the funds back to £.

They paid the funds into my French account then used HiFX to transfer the funds back to my uk account. I just waited for a decent rate then moved it back. Was in my UK account in 24hrs.

[nickfrog]

Target to pay 20 to 25 pips with no fees. That's what I got on €100,000+, that was 5 years ago.
If you don't know what a pip is fx language, look it up. When you speak to your forex trader, it sounds like you know what you're talking about even if like me, you don't as that will help secure the deal.
I used Foreign Currency Direct to get 20 PIP, really nice people too. www.currencies.co.uk.