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News
Holiday homes to rent
• Villas and apartments in Turkey in stunning locations and coming soon, luxurious cottages in Bath.
Invest in Turkey for Major growth
• So says Global Property Guide's Property Recommendations. It says gross rental yields are currently at 5.48% with 'significajt potential for growth' Overseas Mortgage Finder also says Turkey is the 3rd largest source of enquiries for mortgages (June figures)
Tax rebate for holiday home owners
• Are you a UK resident for tax purposes?  Do you own a property available for holiday let in Europe?  Do you make that property available for let?  Did you purchase the property for more than £150,000? If you can answer yes to all of these questions, you may be eligible for a Capital Allowance Tax refund of around £10-15,000.    We have teamed up with International Property Success who have arranged a no upfront fees scheme with a tax expert.  The scheme is fully HMRC approved. The amount you can claim will vary according to the rate of tax you pay and the specifics of the property. Claims are administered swiftly.  You will receive a report on your rebate, showing how much you can reclaim, in most instances within 8 weeks.  International Property Success are advisers that specialise in the capital allowance field.  They do not charge upfront fees - you only pay once your case has been approved by your accountant.    Experience shows that unless an investor has access to the appropriate level of expertise it is rare for all available tax allowances to be identified which means that the majority of Investors are not claiming all the tax allowances they are entitled to.  If you would like to find out if you are eligible for this tax break, please contact us immediately.  Tax rules change frequently and can be withdrawn at any time.  This rule will be reviewed in April.
Hot deal from Pegasus
• Pegasus Airlines, Turkey's low cost carrier, are offering 5000 seats to Istanbul at £39.99 one way, for flights taken between November 2009 to November 2010.  The flights can be booked now and fares include all taxes and charges but are subject to availabitily.  Pegasus offer connecting flights to 11 cities in Turkey including Bodrum, Izmir, Ankara, Dalaman and Antalya.
Global property prices on the up?
• With interest rates around the world at an all time low, many countries are reporting signs of improvement in their property markets.
Fractional ownership increases its appeal
• More developers are looking at increasing the appeal of fractional ownership to mass markets.
Costa bargains reignite interest
• According to Rightmove.co.uk's overseas division, interest in the Spanish market is crawling up again.  Spain accounted for 21% of overseas searches on the website in June 2009, an increase of 0.3% on May.  France followed hot on Spain's heels with 17%, although the percentage of hits had decreased by 8.2%.  Half of the regions that featured in the top climbers list were Spanish, with Tenerife experiencing an 9.1% increase in searches followed by the Costa del Sol with an 8.7% increase.  Another high achiever was Turkey, whose market share rose by 13%, taking it into the top 10 countries searched.   The Bodrum Peninsula proved particularly popular. The biggest loser was Dubai with a year on year decrease in searches of 60%.
Investing for the long term - Villa Park
• People often say to us, “is now a good time to invest?” and the truth is nobody knows.
Eurozone recession deepens as house prices drop
• Data compiled by the Financial Times on house prices in the 16 countries of the Eurozone shows a 4.8% drop in prices in the final 3 months of 2008, compared to the same quarter of the previous year.
Wealthy French property owners warned of tax inconsistencies
• Despite President Sarkozy’s significant increases in the 'abattement', or level at which a beneficiary has to pay inheritance tax in France, wealthy property owners should still be wary of inconsistencies between the French and British laws that govern inheritance tax.
 
 
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Currency exchange
When you have secured your dream overseas property, you may then need to purchase the property in the currency of that particular country. Your traditional high street bank, may seem the obvious location for converting your savings, however they will likely offer you a "Tourist Rate" on your hard earned cash, rather than the "Commercial Rate" offered by specialised foreign exchange companies. Therefore by using a foreign exchange company with its more favourable rates, you can potentially get more currency for your pound!

Due to the volatility of the currency market, exchange rates are constantly changing. This can also leave you vulnerable to poor exchange rates when converting your money. However, when using a specialised exchange company, there are several options available to help you secure the best rate possible.

 
Currency options
Spot transactions

These are simply a buy now, pay now option, where the currency is purchased immediately at that days "Commercial Rate". This type of transaction is ideal for those who require their currency immediately. However, should you have some time before your payments are required it may be more favourable to purchase currency using a forward transaction.

Forward transactions

These are the buy now, pay later option. A forward transaction will allow you to reserve a rate up to 18 months in advance of your requirement for the currency. A small deposit will hold your selected rate until the currency contract matures. This option not only allows you to protect against the risk of a drop in the exchange rate, but also gives you the security of having the currency you require at a guaranteed cost, regardless of fluctuations in the market.

Limit orders

A limit order allows you to place an order in the market for a desired exchange rate. This has the advantage of protecting you against negative shifts in the exchange rate, while still allowing you to benefit from positive changes to the exchange rate. Your order is placed into the currency system, and an automatic purchase is made once the market hits your specified rate.

Regular payments

It is important to remember, that when you have purchased your overseas property, it is more than likely that you will still be required to make payments in foreign currency. This could be to make mortgage payments, pay for maintenance or transfer your pension or salary. Again using a reputable foreign exchange company can simplify this process and reduce your costs, by setting up monthly payments which will be subject to extremely competitive rates.

 
Our recommendation
If you haven't had to deal with currency exchange before, the options available to you and their implications may seem daunting. This is why we here at Edison Ford Investment Property would be happy to discuss this process with you in more detail and make a recommendation to a suitable, reputable foreign exchange company. The full information you require to potentially save thousands is only a click away. To protect yourself from this unecessary risk, contact us now.

You will notice that every property listed on EFIP.co.uk has the price automatically displayed in Sterling and Euros, whilst offering an additional link to a currency calculator, should you wish to convert the price into another currency. However, it is important to note that foreign exchange rates fluctuate and that the rates are provided for indication purposes only. Please contact us for current rates or advice on the markets.

To view further information on currency exchange, currency trading and to access next day delivered, commission free travel money, visit GCS Express

 
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