A Place in the Sun Currency - Page 2

Thanks for taking the time to reply Jack, much appreciated

Sophie

Thanks for taking the time to reply Kayh, much appreciated

Sophie

Thanks for taking the time to reply Sunshine, much appreciated

Sophie

Hi Jack, I"m curious as to why you think the place I am looking at may not be legal..... Can you please tell me what makes you think that so that I know what to look out for. It's advertised on Rightmove Spain.... and it's been on there for a no of months now but recently it was taken off as sold and I could not view it  Then two days later it went back on.  I had asked the Estate agent questions about it and requested photos of the upstairs but they haven't sent any,  just replies to general questions. Such as currently used on occasions for family gatherings. Does this sound suspicious..... It's in Ontinyent and it's a country house with some land around it. 

Thank you

Because that's what an Escrow account is linked to.

Did the estate agent or a solicitor mention this account to you? When you asked about it I assumed that you had been told about one connected to the property.

If you are happy with it go for it, I was just saying approach with caution. 

All the best.

Get a Revolut card for one off and regular transfers and even use as a bank.  You get the actual interbank exchange rate which 99.9 % of the time wont be beaten or probably even matched by any of the transfer agencies.  Also no charges unless you opt for the additional services, then theres a small monthy fee.  You can hold and exchange several currencies on it.  I just use the free version and its great.

Hi Sophie,

 We completed our first Spanish property purchase last Friday. For the initial 3000 Euros deposit and then the 10 percent we used TransferWise. They were the most competitive company as they offer the best exchange rate. In fact we use transferwise for all transfers from UK to Spanish accounts and purchases, and also use their debit card. Have had nothing but good service and good value from them.

Unfortunately there is a 30000 a month limit, so we used Currencies Direct for the remaining 90 percent of our purchase. They were Ok but customer service not as good as TransferWise. Biggest difference is the speed - TransferWise gets money from UK account to Spanish acciunt in seconds whereas Currencies Direct takes 2-3 days. When choosing who to use, look at the exchange rate offered and speed of transfer. Also accessibiliy of customer service. You also need to pay attention to the security of your money - I know of someone who lost a lot of money when a company went bust. 

Hope it all goes well for you. Juliet

Thanks Juliet, for taking the time to reply. Much appreciated

Sophie

Hi Sophie. I think Jack is correct in saying don't jump into anything another few months is neither here nor there. If the house was sold then put back on the market a short time later, it may be because the previous buyers found things that were not right, and also if the agents are not answering questions I would be very cautious.

Hope you find that all is OK just tread with care.

Best wishes in finding your dream home.

I agree with the Revolut Card - it allows you to have a UK and Euro account so you can switch money easily from one currency to the  other and for less than €5000 a month there is no fee but even for larger amounts the fee is very small and they give you the full rate - at time of writing this they are offering €1.1513 (13:09 on 27/10)