Receiving Money from Abroad for a Property Purchase? Save thousands with FTT!April 21, 2015 2:16 pm
If you are planning to receive funds from family overseas for help buying your first home, or awaiting inheritance from abroad to help get you on the property ladder; using FTT Global’s money transfer service will save you hundreds, even thousands, on your currency exchange compared with your bank.
One in six adults between the age of 25 and 34 now rely on inheritance to buy their own house. House prices have been rising faster than any wage increases and this continues to make it increasingly difficult for young buyers to afford their first homes.
One of the biggest difficulties for young people trying to get onto the property ladder is saving for a deposit large enough to secure a mortgage. Recent government figures also show that people aged 25-34 are now more likely to be renting privately as opposed to buying their first home.
A survey also found that 49% of parents believe their children will need inherited money to enable them to buy their own homes.
If you are in this position and need to receive inheritance or money from relatives overseas; using your bank will mean poor exchange rates and high fees – losing you money in the process. We know every penny counts which is why FTT Global’s money transfer service gives you a preferential exchange rate up to 5% more competitive than the bank. If you need to receive more than £3,000, you won’t need to pay a £10 processing fee either!
Don’t forget, you can also use FTT Global to send payments abroad for your monthly rent payments from overseas or to send overseas.
Categorised in: News
This post was written by Illy Foster