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Temporary Number Change!
Added 27 June 2013
It seems the Scrubious Pips at Cable & Wireless have been scratching their noses too hard and caused a major problem with our local Antiguan telephone number!  But don't worry, we have plenty more you can reach us on.  Our local Antigua...
Moving Money to Suit You!
Added 27 June 2013
One of the important factors frequently overlooked by overseas property buyers is the true cost of your purchase. Exchange rate fluctuations can make a significant difference in the price of your property by the time you reach completion. Payme...
Great Expectations - Renting your Property
Added 27 June 2013
How do they do it?  Is it worth it?   What’s the damage?  There are many points and ‘issues’ which need to be seriously considered when loaning your property in exchange for a few dollars.   The pros and con...
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Moving Money to Suit You!

One of the important factors frequently overlooked by overseas property buyers is the true cost of your purchase. Exchange rate fluctuations can make a significant difference in the price of your property by the time you reach completion.

Payments of course have to be made in the local currency of the country you have purchased, but this does not always mean you get the right value for money.

Purchasing property overseas means factoring in the fluctuation of your primary currency's exchange rate and highlighting your volatility risk is important. Whether you re-finance for your purchase or not, movement in exchange rates add an important consideration factor, particularly when tied in with unfixed interest rates on any loans you may take out.

Currencies are market driven; more governed by supply and demand, unlike interest rates, which are set by Central Banks. There is no set matrix for predicting the exchange rate market as they are affected by fundamental and socio-economic factors rather than government monetary policies.

It is always wise to keep an eye on the economy to make sure you can afford the repayments when the exchange rate suffers. The best way to do this is to use a foreign exchange rate broker! This helps with peace of mind and leaves you secure of the knowledge of your financial commitment in advance.

Companies like can mitigate currency risk by fixing exchange rates at the time or in advance, helping to establish the true cost of your overseas home.

So whether you release collateral in your existing property or not, you could be paying unexpected increases, or in fact benefit from decreases, in your destination country's currency, unless you use a foreign exchange broker.

Foreign Exchange Brokers

Currency exchange brokers such as are a great help when buying overseas properties. They can help you secure the best rates of exchange in advance and are a good source of knowledge to help guide you. They usually offer the best exchange rates on sizeable purchases, especially when compared to wire transfers or banks.

Exchange rates are live and vary every minute of the day. Historic trends have shown that you may expect an annual volatility of around 10% between two currencies, making a substantial difference to the overall cost of your property.

There are many methods to buy currency: Forward Contracts, Spot Contracts (buy now pay now) and Market Orders (buy when its high). HiFX have also helped to establish a product known as Regular Payment, which is geared to mortgage/pension/monthly payments. This of course is also useful when repatriating funds such as regular monthly rentals or sales balances.

Mark Rickard, Relationship Manager for HiFX says, "We currently service many banks and companies. I've spoken to Jody at HawkswoodWI over the years and we're always pleased to help Hawkswood's customers. Among our clients are Credit Agricole, Banco Popular and Westpac."

So as it is critical for your purchase cost and crucial to your peace of mind, ensure you get the best advice and weigh up the benefits of a foreign exchange rate broker. Keep in mind that some transactions take longer than others to conclude, increasing the variable risk.

As an individual you will not get the same competitive rates as corporate clients, variables can make a huge difference to the affordability of your dreams.

Please feel free to use the money converter tool and loan converter tool on either this site or our App but keep in mind we cannot guarantee their accuracy, they serve only as a tool to guide you.

Mark can be reached at 

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