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Need advice when converting your Bulgarian Currency?

Whether you're re-locating, buying an overseas property or just moving funds, you need to be sure you obtain the best exchange rate for your Bulgarian currency.

Bulgarian house prices are often quoted in Euros and most property transactions are carried out in Euros. Bulgarian currency,  the lev,  is linked to the Euro.

Be aware of the importance that exchange rates have on the total cost of overseas property and the continual fluctuation in Bulgarian currency rates that are associated with such a purchase.

You can save thousands of pounds if you use a specialist currency broker. High street banks rarely give competitive currency exchange rates and they usually charge for transferring funds to overseas banks.

With a currency exchange broker you can obtain preferable rates and fix the exchange rate on future market fluctuations, saving you thousands of pounds in the process.

A currency broker will help you devise a strategy for purchasing Bulgarian currency and provide advice on the different forms of contracts:

• spot basis
• forward basis
• time option forward contracts

This may sound a bit complicated but don’t worry… They take care of everything.

If you’re planning to buy an off plan property, where you are required to pay over several stages during the construction period, then its vital to use a currency exchange broker to assist in sourcing the best deals in the currency market. The broker can also assist in transferring large sums of money if you’re considering investing in a house.

The recent”no” vote on the European constitution has bought great exchange rates for those in a position to benefit. With the recent referendums creating a lack of confidence in the Euro, it’s the perfect time for those looking to buy abroad. The exchange rates are exceptionally good and you can make great savings when purchasing a property, but you have to act now while the rate is good.

For example, at an exchange rate of €1.50 to the pound, the savings on a £100,000 property is £3,450. For a £133,000 property there is a saving of £4,603, and on a property priced at £200,000, the savings is an amazing £6,900.

The art is to know which date to convert, and this is where it is best to seek advice of a specialist in the field.

You may think you have done a deal with the property owner by negotiating a drop in the sale price, but often a far bigger saving can be made by carefully planning your finances related to Bulgarian currency.

Seek the services of a professional market analyst for amazing savings. Arrange forward contracts with the currency dealer who can ring you when the rate is good, so you exchange when rates are most favorable and save a substantial sum of money. If you are planning to exchange currency then I recommend you use Currency UK the leading providers of commercial foreign exchange.

This company Moneycorp is dedicated in providing a first class and comprehensive service to individuals and companies the world over.

• They secure the most competitive exchange rate in the market
• Save hundreds or even thousands of pounds when compared with high street bank rates.
• Fix the rate immediately over the telephone. This rate is guaranteed regardless of fluctuations in the market.
• Arrange forward contracts. Guarantee a rate today to provide for a future requirement.
• Benefit from low cost, fast and secure currency transfers to any account worldwide.
• No arrangement fees.