Why use a Foreign Exchange Specialist

Most people buying a property in Spain will need to transfer a substantial amount of money to a Spanish bank account to complete the purchase. In the past your only option was to arrange this through your own UK bank.

Bearing in mind that clearing banks make large profits from their foreign exchange business alone, do you think you always get the best rate

As specialists in Foreign Currency, we offer competitive rates of exchange unrivalled by clearing banks, ultimately saving you money.

How is this possible

Quite simply - we are in contact with the Foreign Exchange market night and day and we will quote an up to the second exchange rate. Many institutions quote the rate for the day or even the week. This means that they ultimately have to quote a poor rate to you to ensure that they do not fall far off negative market fluctuations.

Our competitors also offer a range of varied products and services to the public. Our focused approach ensures that our overheads remain low and our rates offer you a commercial benefit.

But is it safe

Yes. We are registered as a Money Service Business and regulated by the UK Customs and Excise Department. Their compliance procedures and powers far exceed even the Financial Services Authority. All client monies are held in individual client accounts with each and every transfer being secure and traceable. Our systems ensure safe delivery on time, every time.

Is it worth the hassle

Setting up a trading facility with CBHD requires the completion of two important documents.

If you saved 2.5 pts on your transaction, a GBP 100K transfer could amount to the equivalent of 5 months mortgage repayments.

The process takes minutes and a member of the team will be happy to walk you through any points contained to ensure your understanding. You are then ready to request a trade. There is no obligation if you do not wish to do so, and it does not cost you anything to arrange.

• Let us look at an example where you wish to exchange Sterling into Euros. In saving, say, GBP/€ 0.0250 on your rate of exchange, you unlock capital to use in other areas.
• On GBP 100,000, this amounts to €2,500. This is approx. 5 months mortgage repayments on a 25 year €100,000 loan - or a lot of furniture!
• On GBP 250,000, this amounts to €6,250. This could amount to a small car in the garage of your holiday home.

All Foreign Exchange Companies are the same - Why should we change

Most Foreign Exchange brokers are similar - they try to provide their client with a fair rate of exchange - one that offers a financial saving over that of mainstream competition.

However, there are differences and even if you are happy with your current provider, we can offer you a professional and friendly alternative. Over 60% of our business derives from personal referrals - a fact we are very proud of.

A low risk strategy………

Buying an overseas property requires an understanding of the costs involved and careful planning.

We only require 5% deposit to secure a forward rate.

Let's face it, if the budget is tight, the last thing you need is currency fluctuations to make it tighter. A forward rate is essential or at least advisable in these cases. This enables you to secure an exchange rate from today's market prices, for delivery at a suitable date in the future.

You can, of course, opt for other forms of trades to suit your needs. Our professional team will guide you through these. An overview of these options is described in the following section.

Summary of Types of Trades

Spot Trade: Used frequently to secure immediate market rates and where you need the money to your destination account urgently. We normally require 2-3 working days for the currency to credit your destination account, provided all the documents are completed and returned immediately.

Forward Trade: As mentioned previously this is where you do not wish to risk exchange rate movements and you like the market rate quoted. You can lock this rate in for future currency delivery. We will book this for you and require a deposit of 5% of the total trade value, which will be offset against your final transaction payment due on the agreed delivery date.

How soon will my money be transferred

We will deal at much lower levels than our competitors, with no extra charges

Once we have received your signed documents we will discuss with you the exchange rate and the type of trade you require (i.e. Spot, Forward, see above). We then agree the rate of exchange. This is confirmed immediately with a contract note that highlights all of the key aspects of the deal. We will then arrange for you to complete the transaction documents and return these to us. All this can be done within minutes by fax!

The Benefits to you

SERVICE, SUPPORT and SAVINGS

Over 50 years of experience in a regulated service where you can transfer funds with security and peace of mind.

Support and assistance, especially where you are coordinating your purchase overseas. Our secure database allows staff to view your records and update you on progress any time.

We provide very competitive unrivalled rates of exchange, leaving you with significant savings compared with clearing banks, Bureau de Change and our competitors!

Enquire by email  here     or      Ring us on 0871 990 20 30 or 0034 96 285 5838