Investors 'can save money with specialist currency converters'
Overseas property investors have been advised to use a specialist broker rather than a high street bank when converting currency.
Research carried out for the Property Investor Show said that British investors could save more than £3,735 if they used a specialist, as they offered lower costs and more competitive exchange rates.
Mark O'Sullivan, head of trading at Currencies Direct, said that if investors chose to go down this path, they would save thousands of pounds that could be used on other initial costs.
He commented: "It is crucial to get the best deal on the exchange rate to ensure you don't lose out when transferring money overseas."
Mr O'Sullivan added that it was important to get the best possible deal as an overseas property was potentially one of the most expensive purchases investors would ever make.
According to the Office for National Statistics, 385,000 Britons opted to relocate to countries such as Spain during the year to July 2006.
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