Five Currency Mistakes to Avoid When Buying Property Abroad

5 Currency Mistakes to Avoid When Buying Property Abroad

And how to dodge them like a seasoned globetrotter.

Buying property overseas? Whether it’s a holiday home, retirement plan, or relocation dream you’re about to make a big move. But here's the thing most people don’t talk about until it’s too late:

Currency exchange can make or break your budget.

Let’s walk through five expensive currency mistakes buyers often make (and how to avoid them like a pro).

1. Relying on Your Bank

Banks are great for many things. But foreign exchange isn’t one of them. Their exchange rates are often much weaker than specialist providers, and they tend to tack on hefty transfer fees.

Real Talk: You could be losing thousands of pounds, dollars, or euros just by using your bank.

Better move: Work with a specialist like Moving Currency. We offer excellent rates, faster transfers, and expert support tailored to overseas property buyers.

2. Waiting Until Completion Day

“I’ll sort the currency later.” Famous last words.

Exchange rates change daily. If the rate drops between now and your completion date, your property could suddenly cost a lot more than planned.

Example:
Budgeting €300,000 at 1.17 = £256,410
But at 1.12? = £267,857
That’s £11,447 more — ouch!

Better move: Use a forward contract to lock in today’s rate and protect yourself from market swings.

 3. Underestimating ‘Small’ Losses

What’s 1% between friends? Actually... on a £250,000 transfer, that’s £2,500 gone. Add up stage payments, deposits, legal fees and that’s real money.

Better move: Treat currency like you would a mortgage rate. Every percentage point matters.

4. Not Having a Currency Expert

Some buyers use a faceless online platform and hope for the best. But when things get tricky like foreign bank details or tight payment deadlines you want a real human on your side.

Better move: At Moving Currency, you’ll have a dedicated expert to guide you through the process, liaise with your estate agent or lawyer, and get your money there safely and on time.

5. Not Planning the Whole Journey

Property purchases involve more than one transfer deposit, balance, fees, furniture, even builders. Without a plan, you risk being hit by rate changes again and again.

Better move: Let us help you map out your full currency journey from day one. That way, you’re covered at every stage.

A Word from a Happy Client:

“We were so focused on the house, we didn’t think about currency until the last minute. Moving Currency saved us over £6,000 on our transfer and the personal support was priceless.”
— Laura & David, now living in Portugal

Ready to Make Your Money Go Further?

Whether you’re buying tomorrow or in 12 months, we’re here to help you get the best from your budget.