A forward contract enables you to lock in an exchange rate for up to two years. This option is particularly popular when looking to secure a rate for your house purchase.
Available for transfers over £10,000, forward contracts enable you to plan your budget and avoid a downturn in markets that can increase the cost of your project. You don’t need to have all of the funds available up front, you will just need to pay a percentage of the transaction as a deposit, and the remainder will be paid upon completion of the transaction. It is important, however, to remember that should rates improve, you will be obliged to complete your contract at the agreed rate.
Speak to our currency partner at 0044 (0)1753 752 760.