Currency Exchange by the currency specialists

When buying a property abroad purchasers are always keen to negotiate a good price for their property but most fail to appreciate the importance of ensuring they receive the best rate of exchange when buying their Euros for their overseas purchase. The majority of purchasers have the misguided thought that their bank will offer them the best exchange rate but unfortunately, they are not aware of the options available to them.

Premier French Leaseback & Investments use The Foremost Currency Group as our preferred currency broker to ensure that our clients receive the best rates of exchange when purchasing currency. FCG cannot see into the future, but they can prepare you for it since it is possible to implement monitoring systems to protect a minimum exchange rate. Depending upon the size of the transaction the potential gain could amount to a very tidy sum, but no matter what happens, you are always protected against any negative exchange rate movements that could leave you out of pocket. It is also possible to lock into exchange rates when rates are especially beneficial. Our clients receive personal and efficient customer service from our dedicated account executive James Spurway who can be contacted on 01442 892060.

Why Use FCG as your Foreign Currency Brokers?

A personal, dedicated and efficient service.

Whether it is a one off requirement or an ongoing one, FCG will provide a one to one service, combining market knowledge with different foreign exchange contracts enabling their clients to obtain the most competitive rates of exchange for their currency transactions, now and for the future.

In a market that trades 24 hours a day it is understandable that FCG cannot control market movement; however they can control the margin that you buy at, thus providing a buying facility that is capable of offering more competitive prices than high street banks and other financial institutions.

Thier responsibility does not stop here, as they will also ensure that your funds are sent via priority telegraphic transfer arriving at the destination of your choice within your timescale.

FCG Ltd will focus on a unique service; clients are guaranteed the same account handler from opening an account and throughout the life of your transactions.

These are just some of the reasons why you should consider using their services:

• Free account opening with no obligation
• There will be no fees or commissions on exchange of currency*
• Guaranteed commercial rates of exchange for now and up to 2 years into the future
• Provision of a banking receipt as proof of your transfer can be requested**
• Same day transfers
• Fully compliant with Customs and Excise
• FCG are members of the UK Money Transmitters Association, the trade association for money transfer companies in the UK and follow the UKMTA ‘Remittances Customer Charter’.
• Specialists in Foreign Currency Transactions
• A stress free Personal Service

* Transfers are free on any transaction over £50,000, anything under costs £10
** Proof of Payment (POP) Cost £10

Contract options

Spot Contract - The Spot Contract is the most basic and popular foreign exchange product. It is an agreement to buy or sell one currency in exchange for another. You have 2 days to settle the contract, at a price based on the prevailing "spot exchange rate" the current value of one currency compared to another.

Although the spot market lets you buy or sell currency as you need it, spot exchange rate movements are highly unpredictable, even during a single trading day. Upon receipt of cleared funds currency is available for onward transmission.

Limit Order - A Limit Order is an order to secure currency at a specific price that may not be currently available. This type of contract is particularly useful when the markets are moving in a positive direction for you. This is one of the two most common types of orders, the other being a Stop Loss Order.

Stop Loss Order - A Stop Loss Order is used when the market is moving in a negative direction for your currency. An order is placed on file with your broker to help ease the stress of adverse market movements. A stop loss order instructs your broker to buy when the currency hits a certain point. The purpose of the stop loss is obvious – you want to prevent any further movement before the currency falls any further.

Forward Contract - A Forward Contract lets you buy or sell one currency against another, for settlement no later than on the day the contract expires. Unlike spot contracts, a forward contract eliminates the risk of fluctuating exchange rates by locking in a price today for a transaction that will take place in the future (up to a maximum of 2 years). You also have the flexibility to take delivery of your currency in an agreed time period before the expiry date.

A 10% deposit is required to secure the contract and is payable within two working days with settlement due on the day the contract expires.

As mentioned, the savings available to you by using a foreign currency specialist rather than your bank can be considerable. For example, someone looking at buying a property in France in February 2008 for €200,000 would have paid the Sterling equivalent of £152,671. However, two months later they would have paid £158,730 for the very same property! By securing an exchange rate in advance through the Foremost Currency Group, they would have made a savings of more than £6,000.

Please click here to view some of the FCG client testimonials.

The Regular Payment Plan

ORPP (Overseas Regular Payment Plan)

If you are making regular monthly payments whether it be to pay a mortgage, have your pension transferred, send your salary abroad, pay for property maintenance or utility bills or in fact have any regular overseas commitment, then you can be safe in the knowledge that not only will you receive a commercial level of exchange on your currency, that it will be transferred abroad via priority telegraphic transfer, cheaper than using your bank.
What are the benefits?

• Forget about it - no more monthly worries!
• Cheaper transfer charges, most banks charge between £20 - £40 per transfer
• Commission free - banks charge as much as 2%
• Commercial exchange rate on smaller sums
• Security of fixing prices up to two years into the future
• Proof of Payment (POP)

Typical Savings

Saving £74.15 per month over 10 years would equate to £8898.00

*Note Figures are for illustration purposes only and may not reflect current exchange rates or bank charges