Spot contract
Buy currency now at today's rate for immediate transfer.
Best for: Paying a deposit or completion balance that's due right away.
Foreign Currency
Between agreeing a price and completing, exchange rates can move your costs by thousands. A little planning removes that risk.
Your four main tools
Forward contract
Fix today's exchange rate for a transfer up to 12–24 months ahead, for a small deposit.
Best for: Locking in the price of your purchase between signing and completion — no nasty surprises.
Limit order & rate alerts
Set a target rate; your broker buys automatically (or alerts you) when the market reaches it.
Best for: When you have time on your side and a rate in mind.
Regular payment plan
Automate monthly transfers at a fixed or market rate.
Best for: Paying a mortgage, pension, or maintenance costs abroad.
Five things worth knowing
- 1
A 3% swing on a €500,000 purchase is €15,000 — exchange rates can matter more than the price you negotiate.
- 2
High-street banks rarely offer the best rate; specialist currency brokers typically beat them by 2–4%.
- 3
Never send a large transfer to an account you haven't verified by phone — payment fraud targets property buyers.
- 4
Fix your rate with a forward contract once your completion date is set, so the agreed price is the price you pay.
- 5
Keep some funds in the local currency for taxes, notary fees and the first year's running costs.
A simple plan
Open an account with a regulated currency broker when you start viewing. When your offer is accepted, set a rate alert for your target. When you sign the preliminary contract, fix the balance with a forward contract. Then the price you agreed is the price you pay — whatever the markets do.