Our Services

Retiring or Emigrating Overseas? How can a foreign exchange dealer help?

Moving overseas is an adventure and a new beginning. Whether you are retiring overseas after many years of saving a nest egg, or emigrating to look for a new way of life, the last thing that you want to do is unnecessarily waste some of your capital on bank charges and commissions. This is where SomersetFX.com can help.

By using a foreign exchange dealer you will have the following benefits:

Less bank charges.

The exchange rate that a dealer would arrange for you would be based on the commercial or interbank rate, whereas your bank will use the tourist rates. There is a wide margin between these two rates. For example, if you were to buy Euros, the rates offered by your dealer (using the interbank rates) would be about 5% better than those offered by your bank.

If you are transferring lump sums overseas then your dealer will be able to offer a number of different solutions to help make the transition cheaper and easier. For example, if you feel that the current exchange rate is at a good level, or a level that you would be happy, then your dealer could fix the current exchange rate for you until you are ready to transfer your funds overseas. Your dealer is able to fix the rate for up to 2 years.

If you are going to be receiving a pension payment from the UK, the Monthly Payment Plan (launched in September 2009) offered by SomersetFX.com is perfect for you. With a direct debit set up on your UK bank account, SomersetFX.com can transfer your pension to your overseas bank account. You will also be able to fix the exchange rate for up to 2 years, which means that you will avoid fluctuations in the foreign exchange rate and helps you budget your finances.

Money Transfers

When transferring money overseas, don't let foreign exchange be an after thought. If you are planning to buy a property overseas, or emigrate, then understanding how to buy currencies is vitally important. If you need to transfer money today, or fix an exchange rate for a transfer in the future, or arrange a regular monthly transfer then SomersetFX.com is here to help you.

By using a foreign exchange dealer you will have the following benefits:

Less bank charges.

Buying property overseas

Whether you are buying an existing property or an off-plan property, if you need to transfer money overseas you will be much better off with SomersetFX.com. Apart from considerably less charges, and far better exchange rates than any high street bank. SomersetFX.com can also fix exchange rates for up to 2 years. If you have stage payments on an off-plan property, or there's a few months until you need to transfer the remaining deposit, then you can fix the exchange rate today, for those transfers in the future. This means that you will avoid fluctuations in the foreign exchange rate and helps to budget your finances.

Other Somerset Services

Somerset Group
Somerset Group Ltd is a UK financial services firm, specializing in Retirement Planning, Investments, Inheritance Tax Planning and Portfolio Management. At the moment the focus is on individuals, but early next year we are launching a corporate division, which will provide employee benefits such as pensions, but also focus on the directors needs, such as tax planning and exit strategies.
Visit the Somerset Group Website

Somerset Mortgages
Somerset Mortgages Ltd is an international property and mortgage advising firm. Essentially the company specialises in helping clients buy a property in another country. We cover France, Spain, Italy, Portugal, Switzerland, the Caribbean, Mauritius and South Africa. We have plans to include Germany, USA & Canada shortly, but please contact us if you have an enquiry for one of these countries.
Visit the Somerset Mortgages Website

French Leaseback
At the moment our main focus is on French Leaseback properties, as these offer outstanding value with interest rates at such low levels. In early 2010 we'll be helping clients to invest into property in Germany and Mauritius, which are very different markets, but both offer relatively low risk and long term growth. In 2011, we expect the property market in Spain to bottom out and plan to launch a number of projects in key investment areas.
Visit the French Leaseback Website