Transfer of money Housing loan

[sugarbabe]

We are due to start paying our housing loan for our new property in cyprus.
Our housing loan is in CHF swiss franc. We are to send over the first instalment very soon can anyone recommend the cheapest and best way of transfer money from the uk to our bank in Paphos.

[Veronica]

Originally Posted by sugarbabe

We are due to start paying our housing loan for our new property in cyprus.
Our housing loan is in CHF swiss franc. We are to send over the first instalment very soon can anyone recommend the cheapest and best way of transfer money from the uk to our bank in Paphos.

There are currency exchange companies who will find you the best rate of exchange.
We have used currencies direct on several occasions and found them to be very good.

Regards Veronica

[Pretty Flower]

Originally Posted by sugarbabe

We are due to start paying our housing loan for our new property in cyprus.
Our housing loan is in CHF swiss franc. We are to send over the first instalment very soon can anyone recommend the cheapest and best way of transfer money from the uk to our bank in Paphos.

My parents recently moved to cyprus in February 2009 and all the money they transferred over from the UK they used Smart Currency whom were very good. Hope that helps you.

[cypriotsid]

When we bought our place we used natwest that was over 7 years ago.Also benificiari is better in cy as cost cheaper.We did our funds all in one go and got great rate and it can cost you more if you send it in stage payments.Depending on euro you can really be out of pocket at least if funds are in cy in one go it does not matter how exchange goes.But then you should get financial advice.

[cypriotsid]

forgot to mention we got great commercial rate

[Veronica]

Originally Posted by cypriotsid

When we bought our place we used natwest that was over 7 years ago.Also benificiari is better in cy as cost cheaper.We did our funds all in one go and got great rate and it can cost you more if you send it in stage payments

The problem at the moment Sid is the weakness of sterling against the Euro.
If all the money was transferred to Euros at this time and then the Sterling strengthens sugarbabe would be well out of pocket.
We have seen a report which says that the Sterling will strengthen again at the end of the second quarter this year.

Unfortunately no one really knows which way the currency situation will go

[cypriotsid]

Very true and there are a lot folk in trouble now as there stage payments have gone up out of pocket by thousands due to exchane rate.We did ours as one lump and got good rate and as rate exchange dropped our funds already there.Swings and roundabouts

[theresoon]

Has anyone heard/ used a company called fx global market? They are based in Nicosia. If so, please let me know of what you think.
Thanks