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Transferring proceeds of house sale in Spain back to U.K.

Posted: Mon Nov 15, 2021 1:59pm
2 replies114 views4 members subscribed
Jet Mayfair

Posts: 23

11 helpful points

Location: Álora

Joined: 5 Oct 2020

Hello, Does anyone know the best and least expensive way to transfer the proceeds of my house sale in Spain back to the U.K. , I have heard that some banks charge quite a lot ?

Many thanks

Martin

Tworowans

Posted: Mon Nov 15, 2021 2:42pm

Posts: 31

24 helpful points

Location: Álora

Joined: 23 May 2020

Posted: Mon Nov 15, 2021 2:42pm

I sold a property in Florida and used Wise (then TransferWise) and it was a breeze - notwithstanding the fee grabbing US banking system. The GBP was progressively weakening against USD and so I bought my GBP’s over a period of 6 weeks selling tranches of $20k at a time

Couldn’t recommend Wise more highly for speed ease and cost

For others in the same position just a reminder to examine a range of EUR/GBP forecasts  

I don’t know how you feel about the strength of EUR/GBP moving forward but here are some timing comps based on selling 100,000€ :

Sell today @ c£1.1740   £85,179

Sell @ £1.20 £83,333 (£1,846)

Sell @1.15   £86,956  + £1,777

Holaitsdavid

Posted: Mon Nov 15, 2021 6:36pm

Holaitsdavid

Helpful member

Posts: 348

162 helpful points

Location: Mijas Costa

Joined: 30 Mar 2021

Posted: Mon Nov 15, 2021 6:36pm

TransferWise  https://wise.com/

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