Overseas Investment Property and Property abroad

Our service is available to both Corporate and Individual private clients, offering exchange rates normally reserved for the major financial institutions.

As established professionals, we have direct access to the latest market rates and movements. Because we are buying and selling currencies at high volumes, you pay no fee or commission as our profit comes from the difference between the price we buy and sell at.

With offices located in the heart of the City of London and in Europe, we offer a first class service.

Over the years we have established close working relationships with prominent lawyers, financial advisors, and overseas property agents, enabling us to offer specifically structured products like our new Regular currency payments service, and our next day Travel Money service...we can also make introductions to other professional services that may be required.

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AN INTRODUCTION
SGM-FX, are foreign exchange specialists headquartered in the City of London. We are able to provide favourable exchange rates to individuals looking to buy overseas property. We can offer our clients highly competitive foreign exchange rates through our longstanding contacts in the wholesale financial markets. We do not levy a commission on our clients and there are no hidden charges, the price that we quote our clients is the one they get. This means that clients receive a transparent and favourable currency exchange rate and are able to achieve savings on the cost of their purchase or sale.

We accrue our profits in a similar way to that of the banks, but in a much cheaper and more transparent fashion. The profits we make arise from the difference between the ‘buy’ and the ‘sell’ rate of the two currencies. For example, SGM-FX will be offered currency from the global foreign exchange market at the ‘inter-bank’ rate (or, the wholesale price) and offer it to you, the client at a rate that encompasses our margin. This is a similar relationship to that of a wholesaler and a retailer, and of course it is exactly the same as the bank. However, the bank’s rates are worse as they incorporate much larger profit margins.

THE ISSUE
In securing property abroad, purchasers are likely to spend more time searching for the right property via their estate agent and researching the best method of financing their purchase rather than considering the financial implications of transferring money overseas. The conversion of funds for property acquisitions is often done at the last minute. This leaves the buyer exposed to the prevailing exchange rate and can significantly alter the eventual and total cost of the property.

When buying overseas it is essential to consider all aspects of the currency element of the transaction. For example, when considering the cost of a house in US Dollars there is no fixed exchange rate from which to calculate the eventual cost in sterling. This is because the foreign exchange rate changes continually. Depending on when you purchased a $300,000 home in the last eighteen months it might have cost anywhere between £155,000 and £195,000.

THE SOLUTION
SGM-Foreign Exchange aims to take away the worry of your foreign currency transaction. By consulting with SGM-FX the buyer has access to foreign exchange specialists who can advise on market forecasts and the most beneficial way to transfer funds. We provide a proactive service designed to inform the client of positive and negative movements in the exchange rate to enhance extra savings and reduce the risk of losses. As currency experts, we have access to the inter-bank market and are able to secure and offer the best available exchange rates. This allows you to make significant savings on your overseas purchase.

THE BENEFITS
Our facilities include the ability to buy or sell currency for same day delivery at the best available rate. In consultation with your Personal Account Manager you can also secure an exchange rate for up to 12 months in advance. This is done by arranging a forward price for your currency based on the current exchange rate.

Using a forward deal gives you the opportunity to secure a favourable exchange rate for a future date. For example if the Pound is particularly strong against the Dollar at a given time, you can secure the rate for future transfer of funds. Thereby removing the worry that the exchange rate will have moved adversely when you need to convert funds.