- March 24, 2007 at 2:57 pm #52738
I am in the process of arranging a small spanish mortgage for a property
that I am buying.
Could anyone tell me what the most cost efficient way of paying the regular mortgage payments would be from the UK ?
For example would it be via a monthly standing order from my UK bank account or an annual payment from my UK bank into a spanish bank who would then make monthly payments.
any advice would be most welcome
- March 24, 2007 at 7:04 pm #70262
As you say its a small mortgage which means small monthly payment. I sugguest you send six months in advance through HIFX or other FX brokers.
I dont work for or an Agent of HIFX, but have used them for many years and never a problem.
- March 25, 2007 at 5:09 pm #70278
a number of Forex companies now operate small monthly payment schemes exactly for this purpose. CurrencyUK are one that do and I believe there are 2 or 3 others that also do (I know currency UK because I deal with them a lot myself but ant speak for others because I don’t deal with them)
I believe the minimum for CUK is €500 or maybe thats sterling
You can find th at http://www.currencyuk.co.uk (Sorry mark if this is not allowed)
- March 26, 2007 at 8:22 am #70302
Currencies Direct also offer a scheme where they will take small amounts by direct debit from your English acount each month and send it to Spain.
- March 26, 2007 at 11:59 am #70319
many thanks for the responses, which have certainly answered my query
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