Unless you are already based on the European continent, you will almost certainly have to convert funds for the payment of your Italian property. However, since the exchange process of British Pounds to Euros is but one small aspect of the entire property transaction, many buyers fail to give it the attention it deserves, thus committing a fundamental error.

You will almost always have an exchange rate in mind when you determine your budget for the purchase price and additional costs of your Italian property – it will usually be the rate on the day you actually decide to purchase. In most cases,  buyers find a property find out what the exchange rate is on that day, and base their decision to buy on that rate. If they are very lucky, they may achieve their budgeted rate on the date they actually transfer their money to Italy.

Why lucky? Many buyers leave all their currency purchases to the last minute, therefore leaving themselves at the mercy of whatever the rate is on the day of transfer. Exchange rates do fluctuate, sometimes quite dramatically, and the art is to time your purchases so that your budgeted exchange rate is achieved. But do you have time to do this?

Most buyers understand that the price of currency fluctuates second by second as it is traded on the currency market floor. They are also aware that banks add on a 2-5% profit margin when selling the current on to the end user – the buyer.

HOWEVER, what many buyers do NOT realise is that there are methods of purchase currency, and at a far more competitive rate, simply by buying at the right place and at the right time.

That is where working in tandem with the right currency specialist can be so beneficial. If you can communicate your budgeted rate and the details of your payment schedule to a specialist, they will have the time (and inclination) to try and achieve that budgeted rate for you.

Smart Currency Exchange charge no fees, no commission and actually work with clients to determine the best way to avoid risk and save as much money as possible on their exchange. It is the only currency company in the UK that does not pay its dealers/brokers in commission – that fact alone giving your the peace of mind that you're not in the hands of a dealer who is hoping to get the maximum amount of money possible from you.

When you ring Smart Currency, you are able to speak to experts who deal everyday with clients in your very same situation. They are able, and happy, to answer any questions and worries you might have about currency conversion. No matter how silly you feel the question to be – rest assured, somebody else will have already asked it! You will therefore be able to communicate with someone who can clearly and concisely explain the entire process to you, thus enabling you to get the most bang for your buck!