Sorting out the financial aspect of your new property abroad can be quite a daunting task, as Ken and Sarah Smith found.

Over the years Ken and Sarah have been to just about all the Greek islands.  They spent numerous holidays there and had always liked Greece and the Greek people. However, it was while holidaying at a neighbour’s home on Kefalonia that it occurred to them to actually build their own home on the lovely island.

“I had retired, and we decided that if we didn’t do something about it now, we never would” recalls Ken.  “Sarah is still working, but we wanted a holiday home, with the intention of staying for longer periods as we get older. I had the time to put into the project, so we bought a plot in Katelios and hired a local builder.”

The first payment on the new property was a deposit of €37,000 which Ken did through their local high street bank, and found it massively expensive.  “I sent the money through the bank and found it hard to believe the amount they charged for the process” says Ken.  “It was only on hearing about Smart Currency from Sarah, information that she picked up on reading the Greece Buying Guide, that I first learnt about currency companies and what they do.  Needless to say, once introduced to this money saving way to ensure the best rates, I have used them ever since.”

Ken recalls: “There were more stage payments to come for the off-plan property: €13,000 for the first stage then 3 tranches of €60,000 and then finally a completion payment of €2,000. After my initial money transfer, the follow up at the currency company was excellent.  I spoke to various individuals, all of whom were friendly and to the point. All my initial concerns were answered and I found the actual process extremely easy. They talked me through the whole process, even advising on the wisdom of ‘forward buying’ – locking the currency in at that day’s rate for a time in the future.”

Ongoing dealings with a currency company rather than a bank proved easier than expected for Ken and Sarah, with the added bonus of money saved: “We will have saved hundreds of pounds by the time the building is completed.  This plus I plan to transfer some funds into a Greek saving account on an ongoing basis. Also I am kept updated on currency trends” adds Ken.

Currency fluctuations, previously not really taken into account, now became an important topic of concern as Ken realised how much money could be saved by exchanging currency at the right time. It helped to have a dedicated dealer monitoring the rates for him on an ongoing basis. This plus no commission charges and no transfer fees made a huge difference to Ken and Sarah’s bottom line.

“Once I realised that not every organisation charged the same rate I started watching the rates” comments Ken. “I am, by my own admission, a ‘tight git.’  But now, with the passage of time, trust has been established and I don’t bother to compare rates.  I won't change now.  Follow up is excellent and the educational reports I receive are of enormous value.”

Ken has recommended several friends to his currency company.  They have all taken a leaf out of his book and are now sending money abroad through a currency company, at better rates and with far cheaper costs. Summer is on its way, and Sarah and Ken look forward to the time when they can relax in their own lovely home on the green island of Kefalonia.

To get in contact with Smart Currency Exchange go to:  http://www.smartcurrencyexchange.com/Currency_quote.aspx