TorFX offer ultra-competitive exchange rates for people buying in Portugal, whether you are buying a second home, or emigrating. We can also send your funds to your Portuguese bank account free of charge.
Portugal has been a highly popular destination for British buyers over the last ten years. There are many advantages to buying property in Portugal, including the excellent climate, good food, and a beautiful coastline.
Before you commit to buying property in Portugal, you should take time to consider the financial implications of your transaction, especially in respect of the exchange rate. Exchange rate fluctuations can make a dramatic difference to the price you end up paying for your property in Portugal. TorFX are able to offer preferential exchange rates which are usually only available from your bank on transactions of £1m or more. On a typical transaction, clients save 1.6% by using TorFX. On a large currency transfer, this could mean saving thousands of pounds.
There are also other factors you will need to consider when buying property in Portugal.
Buying Property in Portugal - Legal Representation
It is always worth seeking advice from a local lawyer when buying abroad. A bilingual lawyer will also help to ensure that things go smoothly, and that you understand the process.
Buying Property in Portugal - Buying Outright
If you are buying a resale property in Portugal, you will at some point need to change your sterling into Euros. TorFX can help you get the most from your transaction, as well as protecting you from exchange rate fluctuations. Once your property purchase has been agreed, you can reserve your Euros at a guaranteed exchange rate, allowing you to have total peace of mind, and focus on the more enjoyable aspects of buying in Portugal.
Buying Property in Portugal - Buying Off-Plan
If you are buying in Portugal , and your property is part of a new development, you will probably need to make a number of "stage payments", with the final payment due upon completion. This can entail risk, since the exchange rate is likely to fluctuate considerably during this period. TorFX can help you avoid this risk by fixing a guaranteed exchange rate for your various stage payments in advance. When buying off plan in Portugal, this option can be highly advantageous. |
