The currency market moves about from day to day, sometimes up, sometimes down. But when you’re looking at paying the deposit on your dream house in France or needing to send funds to pay bills or for things like building work – the last thing you need is more stress and uncertainty not knowing which way the currency wind blows. And that’s where a foreign exchange money transfer company can really help you to save money on your currency transfers to France.

What are foreign currency money transfers all about?

Most of us don’t know the ins and outs of foreign exchange, we don’t need to. But we do know that our bank usually charges commission. And we do know that they’re not usually giving us the best rate available. Many of us don’t look for a different way to get a better rate because it might seem too much bother. But actually, nothing could be further from the truth. The whole system of foreign exchange has moved on leaps and bounds in recent years and makes it easy for clients to take advantage of the best market rates experts can provide.

Currencies Direct for instance, make setting up an account easy and quick – it’s all online. They have staff at the end of the line you can talk to – not just a chat bot. They have more than 20 branches around the world, trade in more than 40 countries and have experts watching and analysing the market constantly and providing live exchange rates.

They’re happy to give advice. They have no hidden fees, zero transaction costs and secure the best exchange rate on your behalf. Currencies Direct were the first money transfer provider in Europe and have been helping to move money at the best rates for almost 30 years. They are fully authorised and have level 1 credit rating with Dun & Bradstreet which may not mean much to most of us but essentially it’s the highest credit rating available.

Importantly for their clients, they can make payments that arrive in minutes – not days later. As anyone who’s ever needed to transfer money abroad knows, waiting for a payment to come through can be the sort of stress you just don’t need. Especially when you’re sitting in the notaire’s office waiting to be handed the keys to your dream home. Or you need to pay a bill. Or have euros in the bank when you need them.

Currency exchange tips for French home buyers

When it comes to buying a property overseas there’s plenty of paperwork to complete and lots to consider. But one thing that you can save time, stress and money on is the transfer of funds. Not just for the deposit, but any mortgage payments and ongoing costs such as electricity and phone bills.

Transferring funds via Currencies Direct can save you a fair bit of money. They’re at the end of the phone to help with any questions and to give advice.

How does setting up a foreign exchange account work

First register for free – simply complete a quick and easy online form. Let Currencies Direct know what currency you need and where you want to send it and they’ll come straight back with a live rate. You confirm, they will book the payment and you send the funds, they accept debit cards or bank transfers, to their segregated account and they will make the payment as soon as they receive your funds. Simple. Secure. Stress free.

You can also instruct them that you want to be notified when the market rate reaches a level that suits you, and then make your transfer. Make a one off payment or set up regular payments such as a mortgage. If your bank charges say £25 per transfer and you’re paying a mortgage 12 months a year, that’s £300 you could spend on something much more fun. And you’re probably not getting the best rate either. It doesn’t matter if you’re sending a large sum or small money transfer – why waste it when you can save money.

Currencies Direct help you manage your transfers and payments online with ease and securely.

The Good Life France uses Currencies Direct. Registration is easy and secure, plus there are no added fees. They save their customers money  with their advantageous rates of exchange and guidance. You can speak to one of their experts over email or by phone… Find out more about their currency transfer services here: currenciesdirect.com

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If you’re moving money to or from France you’ll want to get the best return possible on your currency transfers. But how do you make sure you get the best rate? We asked Calum Harkiss at Currencies Direct who have been helping people maximise their currency transfers for almost 30 years, to explain the process why timing is important when transferring money overseas…

The currency market is always moving, so picking the right time to make a transfer can be tricky. Even a seemingly small discrepancy in the exchange rate you secure can make a massive difference to how much you receive, and rates can shift by as much as 5% in a matter of weeks.

Over the last ten years we have seen several historic shifts in the currency market due to events like the EU referendum, Covid-19, Brexit, the war in Ukraine and (most recently) the turbulent political situation in the UK.

In 2022 alone the GBP/EUR exchange rate has seen a wide range of fluctuation. Over a short period of time, if you had £100,000 euros to transfer you would have received €121,000 at the higher rate, but €6,000 less when exchange rates were at their lowest. When you transfer money through Currencies Direct, we’ll provide, and agree, an exchange rate with you over the phone, online or via our app. We can help you buy currency to use at a later date, we set rate alerts and we send your currency as soon as we receive your payment. It’s simple.

No transfer fees for your currency transfers

And it’s not just the timing of your transfer that’s important, the exchange rate you receive can be very different depending on the provider you use to move your money abroad.

While most banks will offer you uncompetitive exchange rates and tag on transfer fees, as a leading currency provider, Currencies Direct will make sure you receive exceptional exchange rates, potentially saving you thousands on larger transfers.

What’s more, we don’t charge transfer fees and we offer a range of specialist services to help make your money go further.

Whether you want to fix an exchange rate ahead of making a transfer, buy currency in advance or target an exchange rate higher than the current market level, Currencies Direct can help. currenciesdirect.com

Find out more and get advice at: currenciesdirect.com or contact Calum Harkiss:  +33 (0) 631 559 607 or email calum.h @ currenciesdirect.com.

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Once you have found your dream French property, here’s how to make sure you secure it and get it before someone else does. Below you will find the basic steps you will need to follow for buying a property in France – from the offer to taking possession of the keys…

Get your documents and finances in order

Making an offer is just the first stage. Before contracts are authorised, a pre-contract needs to be signed and 10 days to have passed. This prevents the seller from accepting other offers. You will need to provide various documents to verify your identity including birth/wedding certificates, copy of passport (with at least six months validity before it expires), etc. At this stage it’s a good idea to appoint a currency exchange specialist who will work with you to ensure that the whole process goes smoothly and that funds are transferred in accordance with the terms of the contract.

Appointing a notaire

You will need to appoint a legal specialist – the “notaire” who will draw up the contracts. The seller and buyer may share the same notaire or appoint one separately. A notaire is the only entity who can register the transfer of ownership with the French land registry. They will check that all documents are genuine, and are obligated by law to provide the buyer with all information about the agreement. Their presence guarantees that the transaction is secure, the title of ownership is clear and collect related taxes on behalf of the state.

The fees a notaire collects will  depend on the value, age, location and type of property. For existing properties, you will generally need to pay between 7% and 10% of the purchase price, 2% in conveyancing fees. New builds require registration taxes plus VAT at the rate of 20% on the purchase price (except for sales between private individuals).

Even though these costs are called “notaire’s fees”, the notaire only receives around 1% of the property sale price. The rest is for registration costs and tax. The buyer covers the notaires fees, if there is more than one notaire, they split the fee in half.

Sign the “Compromis de Vente”

The compromise de Ventes is the pre-contract which is signed by both the seller and the buyer to confirm the deal and start the property purchase process. While a date to sign the final contract will be agreed, you have 10 days before you are legally committed to purchasing the property.

Pay a deposit to the notaire

After signing the preliminary contract, you need to pay 10% of the sale price as a deposit to the notaire. At this point, it’s a good idea to open a French bank account. Again you’ll need to provide documentation which the bank will specify.

Sign the contract

It usually takes 2-3 months to complete all the paperwork after which you will need to go to the notary’s office to sign the deed of sale or the “Acte Authentique”. This concludes the legal handover of the property. The funds to pay the notaire’s fees need to have been transferred before the contract is signed. Your currency exchange specialist can work with you to ensure that the money is paid in good time and at the best rate to suit you.

Use a currency specialist

It can be much more economical to use a currency transfer specialist such as UPFX rather than a bank where you’re likely to pay fees. Not only will UPFX offer you competitive exchange rates, but they’ll make sure that your funds are protected from currency fluctuation. They’ll help you navigate the currency market too, taking into consideration your specific needs, goals and budget.

The last thing you want or need when you’re buying your dream home in France is to worry about currency transfers. What you do want is peace of mind when sending money overseas and to know that you’re getting the best rate and no hidden fees. Universal Partners FX are renowned for their excellent client service and you can talk to one of their foreign exchange experts without any obligation.

The post Buying Property in France: The Process appeared first on The Good Life France.

When it comes to buying a house in France, a euro mortgage is definitely worth considering.

It’s a good idea to start the borrowing process early. Knowing you have the finance sorted can help you plan expenses with confidence. And you might find you get a more favourable borrowing rate as well as being in a strong position to negotiate with sellers.

Mortgages in France

If you borrow from a French institution, you will be allowed to borrow up to one-third of your total gross monthly income. Without a “stable” monthly income, it will be very difficult to secure a loan. French lending agencies and banks prefer to lend to salaried employees. They favour those working for the same employer the last three years.

French mortgages offer both variable and fixed rates from 1.50%-2.50% (2020). And require a deposit of 15% to 25% of the property’s purchase price. The maximum for a repayment loan is 85% with a 25 year maximum term. Or 75% maximum for an interest-only mortgage and 15 years maximum term. Interest only mortgages require the client to have assets eg a home in the UK. They are usually more difficult to obtain.

It is also possible to borrow from a UK-based bank (pre Brexit) but many buyers find borrowing for a French property from a French bank is easier.

Getting in touch with a French lender that specialises in offering mortgages to British expats might save you a lot of time and aggravation, as they will tell you exactly the requirements and help you get the best possible deal.

Fixed or variable-rate?

While a fixed-rate mortgage might offer the security of standard and consistent payments, it is usually more expensive than a variable one whose rate fluctuates depending on the movement of interest rates. It can either go either way in terms of benefits to the borrower.. In France, most mortgages are fixed-rate.

Life Insurance

If you take out a French mortgage you’ll need building insurance as well as life insurance, both products might be offered by your lender. Life insurance guarantees that you can repay the loan. In some cases you might be asked to provide further documents such as a general medical examination certificate or blood analyses. Some policies require more information, such as where you travel to regularly.

Use a currency specialist

Specialist currency brokers can save you lots of money in the long term as a French property owner. Transferring sterling to euro can involve fees such as bank charges. However a currency transfer specialist such as UPFX can organise your transfers without extra costs while offering you competitive exchange rates. They can help you plan for your specific needs and budget, and offer helpful guidance about the property buying process (UPFX free property guide).

UK Government guidance on Buying a home abroad

The post Getting a loan for your French property purchase appeared first on The Good Life France.

The currency market moves about from day to day, sometimes up, sometimes down. But when you’re looking at paying the deposit on your dream house in France or needing to send funds to pay bills or for things like building work – the last thing you need is more stress and uncertainty. And that’s where a foreign exchange money transfer company can really help you.

What are foreign currency money transfers all about?

Most of us don’t know the ins and outs of foreign exchange, but we do know that our bank usually charges commission or doesn’t pass on the best exchange rate available. Many of us don’t look for a different way to get a better rate because it might seem too much bother. But actually, nothing could be further from the truth. The whole system of foreign exchange has moved on leaps and bounds in recent years and makes it easy for clients to take advantage of the best market rates experts can provide.

Universal Partners FX for instance, make setting up an account on line easy and quick. They have staff at the end of the line you can talk to – not just a chat bot. They’re happy to give advice. They have no hidden fees, zero transaction costs and secure the best exchange rate on your behalf. And they have an e-license which means they can securely hold funds with zero risk to clients. They’re also listed as an authorised foreign exchange payment service by the UK Government’s Crown Commercial Service.

Importantly, they can make payments that arrive in minutes – not days later. As anyone who’s ever needed to transfer money abroad knows, waiting for a payment to come through can be the sort of stress you just don’t need.

Currency exchange tips for French home buyers

When it comes to buying a property overseas there’s plenty of paperwork to complete and lots to consider. But one thing that you can save time, stress and money on is the transfer of funds. Not just for the deposit, but any mortgage payments and ongoing costs such as electricity and phone bills.

Transferring funds via currency exchange experts like UPFX can save you a fair bit of money. They’re at the end of the phone to help with any questions and to give advice, and not just about money. They also have an in-house property expert who can help you with advice on the whole process of buying from start to finish what ever stage of the buying process you’re at. Whether you’re at the stage where you’re considering which region is best for you, what your budget is or ready to pay the deposit or balance – they’ll be happy to offer advice on your best options when it come to currency questions.

How does setting up a foreign exchange account work

First register for free – simply complete a quick and easy online form. Let UPFX know what currency you need and where you want to send it and they’ll come straight back with a live rate. You confirm, they will book the payment and you send the funds to their segregated account and they will make the payment same day on all major currencies. Simple. Secure. Stress free.

You can also instruct to be notified when the market rate reaches a level that suits you, and then make your transfer. Make a one off payment or set up regular payments such as a mortgage. If your bank charges say £25 per transfer and you’re paying a mortgage 12 months a year, that’s £300 you could spend on something much more fun. And you’re probably not getting the best rate either. It doesn’t matter if you’re sending a large sum or small money transfer – why waste it when you can save money.

Universal Partners FX help you manage your transfers and payments online with ease and securely.

The Good Life France uses Universal Partners FX who specialise in overseas property purchases. Registration is easy and secure, plus there are no added fees. They save their customers thousands of pounds with their advantageous rates of exchange and guidance. You can speak to one of their experts over email or phone… Find out more about currency transfers and how they can help with the property purchase process here: UPFX.co.uk

The post Universal Partners FX –  currency transfers that save you money appeared first on The Good Life France.

With more than 25 years of experience, Universal Partners FX aims to take the mystery out of foreign exchange and provide clients with an excellent service, competitive rates, market insights and the right currency strategy to help save money.

Introducing UPFX

Often people default to their bank for international money transfers, because it seems easier. But there are cheaper and more convenient alternatives. At UPFX, the process of foreign exchange and money transfer is simple and secure. Their team of global currency specialists mean you have an experienced person to talk to for advice. And they help you save money. Their online platform is convenient, quick and simple to use.

There are no hidden fees

Whether you’re purchasing an overseas property or perhaps moving savings internationally, when you exchange currency and transfer it through a bank, you’ll typically be charged a margin of up to 5% above the daily exchange rate. Banks will often add a hefty transfer fee as well, which many clients aren’t aware of.

With UPFX, you’ll get a quote based on the best exchange rate available and there are zero transaction costs.

Secure transfers

Getting started with UPFX is simple. They are regulated by the FCA (Financial Conduct Authority) which means your money is secure. And, if you have any questions, you can simply call their dedicated dealing team for assistance 24/7. It’s a secure, efficient process. And especially at times of unpredictable markets, talking to the experts can help you manage risk and save money.

It’s absolutely free to get a personal quote and consultation.

The Good Life France uses Universal Partners FX who specialise in overseas property purchases. Registration is easy and secure, plus there are no added fees. They save their customers thousands of pounds with their advantageous rates of exchange and guidance. You can speak to one of their experts by email or phone…

The post How to make the most of your money when it comes to currency exchange appeared first on The Good Life France.

Many of you reading this will be no stranger to the vagaries and volatility associated with the currency markets. It is a major consideration in any expatriates’ life unless they have severed all ties with the UK and have fully committed to a Francophile existence and at no time in recent history has it been so tumultuous.

The combined factors of political upheaval in the form of Brexit, despite varied opinions, have turned 50 years of economic and foreign policy on its head overnight. Mixed with economic recovery across Europe and UK and we have ourselves the perfect storm in currency terms. Add in the lack of internal filter between the current US President and his Twitter feed and the markets can become more than treacherous to try and navigate.

James Bennett of Aston Currency Management shares his views on what we could potentially see happening with GBP/Euro for the rest of 2017:

We’ve had recent indications from Mark Carney at the Bank of England that an interest rate rise is imminent, causing sterling to throw off its recent slumber and have a noteworthy rally on the Euro. This has caught most analysts by surprise and provided a brief and welcome window to those with Sterling based income. However, can it last?

With German elections imminent and Brexit still very much an internal argument in the UK, it would appear questionable at best. This fact set against the background of a Europe finding its economic feet and rallying behind the political movement to form an ever-closer bond as a reaction to Brexit, galvanizes somewhat ironically the spirit of understanding that we sought and failed to find within the EU. We don’t see a rosy outlook for GBP in this context.

How will this impact your current spending and investment patterns? This is a question that we would advocate you to consider sooner rather than later as inaction is very much a gamble that few can afford. You will see from the simple table below how much £10,000 would have bought you before Brexit, as well as today, and if we reach parity as we expect by the end of the year:

If you are reliant on a Sterling based income source to support yourself then it is time to face the grim reality that in little over a year your relative income has dropped by a huge margin and can fall further.

You are then faced with the choice of adjusting your lifestyle accordingly or taking some of the risk off the table now by forward buying a portion of the currency that you require, that is to say locking in at today’s rate for use at a future date.

You don’t have to do this for all of your currency flow but taking a portion of risk off the table may well insulate you against the worst of a market adjustment. A decent currency broker will be able to advise you on this and deliver further value on your spot transactions, when you are losing money to the markets it is more important than ever to seek to get the most bang for your buck and this is rarely delivered by banks.

Sponsored by Aston Currency Management

The post Exchange Rates and Their Impact appeared first on The Good Life France.

Currency exchange simply means exchanging one currency for another. But, there are different methods for doing this. The way that is best for you depends on your specific requirements.

When it comes to exchanging British pounds to euros there are three options:

Travel cash/Holiday money

Most people experience the process of currency exchange for their holidays. For many, this transaction takes place on the high street at a bureau de change or even a shop. The rate they receive will most likely not be the best (for them). However its really easy to compare exchange rates and make sure you are getting the most for your pounds. Online comparison sites provide the rates available from a number of providers with options to either pick up the currency or have it delivered to you. Remember delivery charges may be applied, particularly if it is a small amount you’re exchanging.

Prepaid currency card

Prepaid currency cards have been around a while but most people aren’t aware of them. They can be a really good option for foreign currency needs. With Currency cards you avoid the risk of carrying cash. And the exchange rate available on currency cards is likely to be better than when you’re converting for travel money. For frequent travellers, currency cards can be a good option as they can be topped up while you’re away. Most companies have an app for doing this. Currency cards are also available in multi-currencies which is really handy when you’re visiting differing countries.

Money transfer

The final method of currency exchange is the one where the greatest savings can be made: international money transfer or overseas payments. This type of transaction is usually carried out where people have a larger currency exchange requirement. Many people use their bank to conduct the exchange but a better option is to use an authorised currency broker. They’ll provide a broker  better exchange rate and will offer an better level of service as well as different options to ensure that best possible rate of exchange is achieved.

With all currency exchange requirements it is highly advisable to compare. Whether you go through online providers and comparison sites, the high street, bank or a currency broker – take time to look into the options available. Make sure you pick the best currency exchange for you. You’ll save you money and the process will be easier.

The Good Life France uses OFX Global Money Transfers. Registration is easy, secure and is a one time set up. After that you just log on and manage your currency transfers when you want to but there’s always someone on the end of the line to talk to you when you need it.

The post What’s the best Currency Exchange for you? appeared first on The Good Life France.

When it comes to foreign currency transfers, most of us think it can be a tad complicated and we simply arrange a direct transfer online through our bank account for the convenience. However we looked into the process and found it’s worthwhile to spend just a little bit of time to set up an account and that it really is possible to save money by using a currency dealer.

Can I really save by using a currency dealer versus a bank?

Absolutely. You can definitely make savings  by using a currency broker rather than a bank because the rates are usually in the client’s favour. Most brokers don’t charge a fee either so that’s an additional saving.

Do I have to transfer money to a currency company’s account before conversion is done?

Yes you do but its a simple process. If you want to carry out a transaction you need to first register with a broker. You’ll get a dedicated point of contact and you’ll be able to discuss rates and agree a rate that’s right for you with advice on just what is and isn’t realistic. Once agreed the rate is locked in and you have 5 working days to send your funds to the broker in order to complete the transaction. Once the funds have been received they will then be sent straight away to the account you specify.

I’m buying a house in France but don’t need to transfer the payment for 3 months, can I make savings by talking to a currency company now or should I wait until I need to transfer the money?

As the exchange rate market is constantly going up and down, when it comes to large sums of money, it’s definitely worth starting to monitor exchange rates in advance of the date that you need the transaction to be made. Once you’ve registered with a currency broker they can update you on market movements and monitor rates on your behalf. Brokers can offer the chance  to agree a rate up to two years in advance of the required transaction date (unlike banks which can’t do this), so you may be able to lock in a rate that’s in your favour. It doesn’t cost anything to discuss this and there’s no obligation but for some this could lead to securing a favourable rate in advance.

I have to pay a mortgage and bills in France which means I have to transfer money each month – is this something I should consider doing through a currency dealer? Will it save me money or is the amount, for instance Euros 1000 too low?

For regular payments it is certainly worth speaking with a broker. Savings available on smaller regular transactions aren’t as big as you’ll make on a larger amount but if you take it over a year, then you’ll find its absolutely worthwhile. If you set up a ROPS (Regular Overseas Payments) plan with your currency broker it will also save you time, the payments will be made regularly so you don’t have to remember (or forget!).

The Good Life France uses OFX Global Money Transfers. Registration is easy, secure and is a one time set up. After that you just log on and manage your currency transfers when you want to but there’s always someone on the end of the line to talk to you when you need it.

The post How To Save Money On Your Euro Transfers appeared first on The Good Life France.

You’ve worked hard to pay for your dream retirement in France, now’s the time to enjoy that relaxed way of life you’ve planned.  If however, your ties to the UK are not entirely cut, and you have a pension being paid into a bank account in the UK –  then you should consider ways to make your pension go further in France.

Each expat’s circumstances will differ in terms of what they want to do or need to do with a monthly pension. Some may well be in the fortunate position that they have deposited a bulk amount of cash in their French account and don’t need to draw on their UK pension payments on anything more than an infrequent basis. Others (perhaps the majority in reality) will be reliant on those pension payments to live on.

For the specifics of how best to manage the pension itself, the advice of a reputable, qualified adviser should fully explain such things as QROPS (Qualifying Recognised Overseas Pension Schemes) and the process and implications of transferring a UK pension.

When it comes to moving funds from a UK account into a French account many people will still make the currency transfer using their bank. But, this may not be the best available option as banks can charge a fee each time a transfer is made and may not offer the best available exchange rate from pounds to euros.

An alternative option is to speak with an authorised currency broker to see how they can save you money – it costs nothing to ask.

Why speak with a currency broker?

Currency brokers transfer your funds in much the same way as a bank, but will most likely provide a better rate of exchange combined with a more personal service. They can also offer different options and solutions to meet differing currency requirements.

For example, banks will typically only offer the ‘spot’ rate which is the rate available should you wish to carry out a currency transfer at the time of asking. Currency brokers will talk you through options such as ‘forwards’ which may suit your needs better as well as provide an improved rate of return and add some protection from market fluctuations. The ‘spot’ option may well be the best solution for an individual’s needs and going through a broker should provide more euros for your pounds due to the improved exchange rate and removal of transfer fees.

Making savings and getting a more personal service make using a foreign currency broker an attractive option, and as it doesn’t cost you anything to check, you have nothing to lose.

Most currency brokers have the ability to set you up with a regular overseas transfer plan which means you don’t need to worry about organising it each month.

If you are in the position where you’re flexible about when you receive the euros some brokers hold a higher level of authorisation as e-money institutions and can hold client funds indefinitely, which provides a better opportunity to get a more favourable rate of exchange.

Whatever your personal pension situation is, make sure you get the most from your money so you can relax and enjoy life more.

The Good Life France uses Universal Partners FX. Registration is easy, secure and is a one time set up. After that you just log on and manage your currency transfers when you want to but there’s always someone on the end of the line to talk to you when you need it.

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