TorFX offer ultra-competitive exchange rates for people buying property in South Africa, whether you are buying a second home, or emigrating. We can also send your funds to your bank account in South Africa free of charge.
South Africa is becoming increasingly popular with British buyers. There are many advantages to buying property in South Africa, including excellent food, beautiful scenery and some of the best coastline in the world. Property prices are still highly attractive compared with some European destinations.
Before you commit to buying a property in South Africa, 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 South Africa. 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 South Africa.
Buying Property in South Africa - Legal Representation
It is always worth seeking advice from a local lawyer when buying abroad.
Buying Property in South Africa - Buying Outright
If you are buying a resale property in South Africa, you will at some point need to change your sterling into South African rand. 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 currency at a guaranteed exchange rate, allowing you to have total peace of mind, and focus on the more enjoyable aspects of buying in South Africa.
Buying Property in South Africa - Buying Off-Plan
If you are buying in South Africa, 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 South Africa, this option can be highly advantageous. |
