YOUR ESSENTIAL GUIDE TO BUYING IN ITALY

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1 YOUR ESSENTIAL GUIDE TO BUYING IN Italy

2 Contents Since 2007, we have been helping families, couples, individuals and investors find their ideal property abroad. With our website being updated daily with new properties, we are sure you will soon find your ideal property in Italy. Over the past years we have built up a close relationship with leading overseas property agents and we work hard with them to ensure that we are able to showcase their properties to genuine interested buyers. Equally important to us is the desire to help our property buyers find the right property, and if required, guide them through the buying process. We are able to do this as we work closely with a number of companies and individuals based in Italy who offer a range of services which are normally required when purchasing abroad. I am also proud to introduce our currency exchange company Foremost Currency Group. I founded this company 10 years ago and to date we have helped over 15,000 customers transfer money abroad. Working in conjunction with estate agents we can ensure transfers tie in with purchase deposits and notaio s fees, enabling our clients to get better exchange rates than they would achieve by using their bank. We trust you find this guide helpful and informative, without making the process of buying in Italy too daunting. Remember, our knowledgeable team of currency brokers are ready to share with you their in-depth market knowledge and help you on the road to securing your property abroad. We wish you success with your property search and encourage you to start your search today by visiting our property website I am confident you will soon find your ideal property in Italy. FINDING A PROPERTY Create your brief 7 1. Property Location 7 2. Type of Property 9 3. Your budget 13 Currency Exchange 14 Start your search 17 Estate Agents Agente Immobiliare 17 Viewings 19 BUYING THE PROPERTY THE LEGAL PROCESS Residency 22 FINANCE Inheritance 25 Mortgages 26 Taxes 27 CASE STUDY 30 Robin McEwen Managing Director

3 FOREMOST PROPERTY GROUP: Italian BUYING GUIDE Buying a property abroad is an exciting time, something that you may have dreamt of doing for years, but it can be riddled with challenges, particularly if you go into the process underprepared. At Foremost Property Group we speak to property buyers every day and while the vast majority of our customers have good experiences when buying abroad, sometimes things can go wrong. Our experience of working with property buyers over the years has enabled us to help many buyers resolve issues or complications relating to their purchase. To help our customers through this journey we have put together some essential country-based guides to buying properties in popular destinations. The property buying process is different in every country and there can be an overwhelming amount of information on the web for you to sift through. We hope this Italian buying guide is a useful resource to ensure that your property buying adventure is a successful one. Guide to buying in Italy In Italy the property buying process is strictly regulated and very structured. If you understand what to expect before beginning your search and through every step along the way, the process should be reasonably straightforward. However, unlike the UK, you can secure a house much earlier by signing a binding contract soon after viewing a property, safeguarding you against the possibility of being gazumped. Finding the right property in Italy was a challenge for us, on the Foremost Property Group website we enquired about a property in our preferred region- Lombardy, but it didn t meet our requirements. However, the agent sent us a range of other properties to consider. After two trips to Italy, 12 months later we had purchased our second home in the Lombardy region. We transferred our initial deposit, then final payment with the Foremost Currency Group. As they understand how the banking system works in Italy, and work closely with estate agents, the house hunting, purchasing and money transfer process was simple and straightforward. Mr and Mrs Lincoln,

4 Aosta Valley South Tyrol Trentino Friuli-Venezia Giulia FINDING A PROPERTY Lombardy Veneto Piedmont Emilia-Romagna Liguria Sardinia Tuscany Marche Umbria Abruzzo Lazio Molise Apulia Campania Basilicata Calabria Sicily Create your brief The key to a successful and stress-free property search is the ability for you to answer the following questions: Where do you want to buy? What are you looking for in a property? What is your budget? Step 1: Property Location Italy is split into 20 regions and has over 4,700 miles of coastline along with outstanding beautiful lakes, ancient cities and stunning countryside. The Apennine Mountain range runs down Italy s centre making it perfect for owning a property that can be within easy reach of both mountains and beaches. Each region has its own unique geographical and cultural distinctions with exceptional local cuisine and friendly locals. Below are some of the popular regions to buy in: Abruzzo In the centre of the Italian peninsula, Abruzzo has wonderful sandy beaches on the Adriatic coast as well as over 20 ski resorts in the Apennine Mountains. As this region is not as well-known as Tuscany, it is considerably more affordable and has good transport links with the UK with Ryan Air flying regularly to Pescara. Campania Incorporating the Amalfi Coast and Naples, Campania is also home to Pompeii and the islands off the coast, including Capri. It is famous for its food and stunning coastline. Prices here remain high and on the islands properties are extremely expensive. As it is such a popular holiday destination it does have a thriving holiday rental market. Friuli Venezia Giulia Nestled between the Veneto region, Slovenia and Austria, this region has golden beaches, gentle hills and mountain peaks. As this area is relatively undiscovered by the British, the properties here offer good value for money. The Italian Lakes Studded with celebrity homes and surrounded by snow-capped mountains, the Italian Lakes are stunningly beautiful. Extremely popular with both locals and foreigners, the prices and demand in this region are higher than in most other regions of Italy

5 FINDING A PROPERTY FINDING A PROPERTY Liguria The Italian Riviera dei Fiori (The Flower Riviera) with nearly 200 miles of coastline has been a popular holiday resort for hundreds of years. The properties available are diverse and extremely popular amongst Italians and foreigners alike. Piemonte (Piedmont) Due to its top ski resorts, vineyards, Lake Maggiore and the city of Turin, Piemonte attracts tourists all year round. Holiday rental properties offer a good opportunity in this region which is competitively priced compared to Tuscany. Puglia Guaranteed sunshine makes this area very popular. It has a remarkably diverse landscape from beaches and lagoons to mountains. The Gargano promontory (the heel of the boot) became a National Park in 1991, limiting the potential for urban development. Accessibility has improved with the arrival of the low cost airlines and with prices much lower than elsewhere in Italy, Puglia is now a popular region to buy in. Sardinia The Mediterranean s second largest island with some of the cleanest and clearest water in Europe. Sardinia is renowned for its diverse culture, geography and food attributed to its ancient history. Property prices vary across the island from the very expensive Northeast (some of the most expensive in the Med) to the more reasonable in the South, Northwest and inland villages. Tuscany The most loved region of Italy by foreigners, Tuscany is renowned for its cypress trees and vineyards as well as the stunning cities of Florence and Siena and the most famous tower in the world, the Leaning Tower of Pisa. As Tuscany is so popular with non-italian buyers, the prices continue to rise. Umbria Landlocked and right in the centre of Italy, Umbria is a region popular with tourists but not as crowded as the likes of Tuscany. It is often described as the the green heart of Italy referring to its rolling hills and agricultural significance. Property prices in Umbria continue to rise as demand increases due to neighbouring Tuscany becoming unaffordable for many. Veneto Stretching from the Dolomites to the Adriatic Sea, Veneto is famous for its capital city Venice, yet other towns are now becoming more accessible due to its infrastructure. There are four UNESCO World Heritage Sites in Veneto: Venice and its lagoon; Verona; Vicenza and Padua s Botanical Garden. Outside of Venice property prices are more affordable. Step 2: Type of Property If you are not in a rush to buy, keep an eye on the property market over a period of a few months to see if houses sell well in the area you have chosen. This information could put you in a good negotiating position later. Once you have selected your region it could be useful to introduce yourself to the Comune (local council) and mayor. On top of having a great wealth of information they can also be extremely influential. Consider what sort of property you want: permanent, holiday home, investment or business; the accessibility from the UK; the amount of time you intend to spend there and of course your lifestyle. We recommend you start by creating a list that is divided into three categories: Essential (factors that you re not willing to negotiate on) Preferred (features you would like to have a wishlist) Must not have (factors that would knock a property out of the running e.g. being on the flight path of a busy airport) There are a number of other factors to consider. If relocating to Italy, then employment, schools, shops and healthcare services will also be important. You may want to consider what the local community is like. If you want to fully integrate into Italian life you will want to speak, or learn to speak, Italian fluently. Check the orientation of the property for sun. If you are near the hills and want to have your balcony drenched in sun, you will need to work out if this will be possible all year round. Will you be inundated with tourists during the peak months? It is worth visiting the areas during these months to see how congested it can become

6 FINDING A PROPERTY Buying a new build It s often cheaper to buy a new home than an old property requiring modernisation or renovation, as the price is fixed, unlike the cost of renovation which can soar way beyond original estimates. Buying an off-plan property in Italy has become more regulated and requires that you receive a bank guarantee to cover your staged payments. In case of insolvency this guarantee requires the bank to refund you within 30 days of request once you have provided them with all evidence showing the amounts paid to the seller/builder. New builds also come with a 10-year guarantee from the builder against all latent defects of the property and any consequential damages caused by its total or partial collapse, including third party damages. Buying an existing property The majority of English buyers are interested in farmhouses (Case Coloniche) as they epitomise the escapism of living in rural Italy. These can traditionally be found in central regions of Italy such as Tuscany, Umbria and Le Marche. Renovating in Italy differs from the UK. Each region has its own local laws, which can affect your plans to renovate. Price per square metre to renovate will vary from region to region. In Abruzzo for example, this can be as low as 850 Eur per sq. m. or in parts of Tuscany higher than 1,200 Eur. We suggest you speak to a local architect to get an indication of renovation costs for the area you are seeking to buy in. 11

7 FINDING A PROPERTY Step 3: Your budget If you are not a cash buyer, you will need to determine the amount you can afford as a deposit as well as taking into account what your mortgage repayments will be. There are a number of costs that come with buying property, such as taxes and fees, and they vary depending on where in Italy you are buying. The fees associated with buying a property in Italy are among the highest in Europe. As a guide they range from 7-18% of the property value, depending on whether you are going to become a resident of Italy, but also based on the type of property you are buying. Estate agent fees are usually divided equally between buyer and seller and they range from 3% to 8% in total. Check with your agent to see if these are included in the price. There are various fees associated with a mortgage these typically amount to about 5% of the amount borrowed and include brokers fees, mortgage tax, insurance costs, and the survey fee. Notary fees are a percentage of the purchasing price and tend to be a higher percentage for lower priced properties they range from 1-3%. Legal fees are around 1-2% + VAT of the purchase price. Please see the Property Tax section for more information. There are costs associated with renovating, maintaining the property and insurances. If you are near the sea, the effect of sea salt can mean you need to put more effort into maintaining it, or a private pool that needs regular cleaning. Take into account Service Charges when purchasing apartments. Owners pay for the upkeep of shared areas such as maintaining lifts, pools, gardens etc. Finally, consider what your maximum purchase price is, taking all the above points into consideration. One of the biggest mistakes buyers make is using the exchange rate at the point in time they start their search to determine their budget. The smallest fluctuations can have a huge impact on affordability. 13

8 Currency Exchange Currency Exchange Currency Exchange Make sure you obtain the best exchange rate when it comes to exchanging sterling to euros for your deposit and completion payments, as well as any ongoing mortgage payments and savings transfers. Speak with our currency partner Foremost Currency Group on +44 (0) in the early stages of your purchase. Your own dedicated broker can guide you through a range of contract options and find one that offers you a host of advantages depending on your situation. The different options include: Spot Contract The spot contract is the fastest way to exchange currency. As soon as you have found the property you want, you can contact Foremost Currency Group, agree a rate of exchange and instruct your dedicated broker where to send your euros. You then have two working days to transfer the sterling to Foremost Currency Group, then your euros can be sent. When your notaio requests your property deposit, a spot is normally used. Limit Order The limit order contract helps you get the rate you want. If you know what exchange rate you will need to buy that villa in Tuscany, you can instruct your Foremost Currency Group broker to purchase the euros automatically as soon as the market achieves this rate. A great option if time is on your side and you can afford to wait until the market moves in your favour. Stop Loss Order The stop loss order contract protects you against a drop in the exchange rate. It allows you to buy currency if the exchange rate drops to a pre-determined minimum level. Combine it with a limit order and you can hold out for a better rate while protecting yourself from a sudden fall in the market perfect for budgeting and forecasting. Forward Contract The forward contract allows you to set the rate for up to 2 years. When your property price has been agreed but the completion date is still a few weeks or months away, a forward contract guarantees the price as the formalities are concluded, protecting you from any market volatility. Or if you feel that the exchange rate is at a high but you haven t quite found the right property, you can use the forward contract to hold that rate of exchange for up to 2 years with just a 10% margin (payable within two working days) and then settle the balance before the contract expires. FX Rate Most customers choose to use both a spot and forward contract. This is beneficial as you can pay for your deposit and any fees using a spot contract, but you can also use a forward contract to secure the currency for your property further down the line. This combination of contracts provides peace of mind and the ability to budget accurately. Length of Time FX Rate Fixed Amount Saved Speak to us today about the best currency option for you on +44 (0) Purchase Date

9 Your Search Start your search Foremost Property Group s property portal is the perfect place to start your search with thousands of Italian properties for you to choose from. Through our website you will be able to see the types of properties available in the region, the price and the number of bedrooms. You will also be able to make a shortlist of properties that are of interest to you. When you enquire about any of these properties, your enquiry is sent directly to the Italian estate agent and they will contact you about your property search. You will also receive a phone call or from our sister company Foremost Currency Group, and one of our currency brokers will introduce our currency services and, if relevant, other partners who can assist you with your buying process. Estate Agents Agente Immobiliare When you choose an estate agent, look for experience ask how long they have been in the industry and operating in the region you are purchasing in. Determine at the beginning, well before your first viewing, if your agent is going to be reliable, enthusiastic and helpful. This can be determined by how quickly they respond to your s before any viewing trips to Italy. It is a good idea to use an agent who belongs to a professional association such as FIAIP. To join FIAIP you must be nominated and seconded by other FIAIP members and are vetted before you are invited to join. This guarantees the association having only registered and legally operating agents. Members adhere to a strict code of conduct and have indemnity insurance. 17

10 Your Search Viewings Using an estate agent who knows the region well and can take you to multiple properties in a day is how many Brits find their property in Italy. Book a trip during the off-season as this is often a slower time for the estate agents, and sellers are more likely to negotiate a lower price when demand is low. Let the estate agent put an achievable viewing schedule together to make the most of your trip and see the best properties. We recommend up to 5 viewings a day and make sure you ask a lot of questions while the estate agent is taking you around. Find out about the local amenities, climate, crime rate etc. Take photos of the property and the surrounds and make sure you talk to the locals to get as much information as you can. 19

11 Buying the Property Buying the Property The Legal Process Professional Legal Advice While you don t need to understand Italian to purchase a property in Italy, it is highly advisable to engage a qualified English speaking lawyer (Avvocato) experienced in property law who does not have any conflicting loyalties (such as a financial connection with the estate agent or a developer). Tax Identification Number Codice Fiscale Before purchasing a property you will need a Tax Identification Number. This will help you with many activities in Italy such as buying a property, opening a bank account, obtaining a mortgage, receiving income, as well as getting a mobile phone contract. There are a number of ways you can apply for one: go to your local office of the Agenzie delle Entrate (Italian Revenue Agency), use a third party by giving them a copy of your passport; or through an Italian Embassy or Consulate in your home country

12 Buying the Property Buying the Property Residency EU residents can remain in Italy for 3 months without having to file for residency, but if you wish to remain for longer you must apply for residency. To do this you complete forms from the post office and register them with your Comune (local town hall). Also, if you wish to pay property tax as a resident, you must apply for residency within 18 months of your property purchase and live in the house for at least 183 days per year to remain eligible. If you are under 65, you will need to prove that you won t be a burden on the state and that you have sufficient financial means to support yourself and any dependents. You will also need proof of medical insurance. If all of your paperwork is in order you can be issued with your Residence Certificate on the spot and it is valid indefinitely. Reservation Agreement Proposta Irrevocabile D acquisto Once you have found the property you want to buy and have negotiated the price, you normally sign a Reservation Agreement, particularly if buying from an estate agent. This takes the property off the market for a short period of time (usually 15 days). At this stage it will be necessary to complete a number of searches and checks. Use a lawyer or a local qualified surveyor (Geometra) and ensure they provide a written report. The Geometra will organise a survey, do searches to ensure that the property matches the one at the Land Registry and do checks with the local authorities (Comune) to ensure local planning and building regulations have been met and that all relevant taxes have been paid. You will also be required to pay a small deposit which is held with the estate agent or your lawyer as security. This offer is only binding on the buyer but becomes legally binding on the seller once they sign it too. Preliminary Sales Contract Compromesso This stage consists of negotiating, drafting, signing and exchanging the preliminary contract. This contract outlines the agreed purchase price, deposit, completion date, property details and boundaries as well as any other relevant clauses. A deposit caparra (normally 10-30% of the purchase price) secures the property and both the buyer and seller are protected. If you fail to complete the purchase you will lose your deposit and if the seller fails to complete the sale they must repay you twice the amount of your deposit. If you are buying the property with a mortgage, it is vital to secure a mortgage agreement, or to formally accept a final offer before signing the preliminary contract. Due Diligence The notary notaio, a legally trained representative of the state, is responsible for the due diligence. They will start the process of due diligence by getting a number of searches underway, such as ensuring that: the seller is the legal owner of the property and is entitled to sell the house there are no debts, mortgages, covenants, liens or burdens on the property the seller has declared any outstanding private agreements regarding the property e.g. if they have allowed a neighbour to build or extend or has given them right of way across the property Neighbours Right to Buy Diritto di Prelazione Neighbouring registered farmers have the right to buy your property up to 2 years from the date your deposit is paid. To protect yourself from this, ask your lawyer or notaio to draw up an agreement for the neighbours to sign that will relinquish this right. Deed of Sale Rogito Completion usually takes 1-3 months from the time of signing the Preliminary Sales Contract. Both you and the seller sign the deeds before a notaio. If you can t be present at this meeting you will need to arrange for a Power of Attorney to sign on your behalf (usually your lawyer). When the title search has been conducted to your satisfaction you will be required to pay for all agreed final payments. These include the balance of the purchasing price, as well as taxes, duties and fees. Then you sign the Deed of Sale Rogito. You will need to show valid ID and your tax code. The notaio will issue you a copy of the deed and present copies to the tax office and Land Registry. You must pay the government duties so that the sale can be officially registered. Registration protects the property from third parties charging any other interests against it. The notaio will also ensure that the utilities have been transferred to your name, and inform the local police of the change of ownership within 48 hours of signing the deed, in compliance with anti-mafia laws. It takes an average of 15 days to complete all the eight procedures needed to register a property in Italy. You will receive the keys and you are now a proud owner of a house in Italy!

13 Finance Financial Matters Inheritance Until August 2015, Italian property was subject to forced-heirship inheritance provisions. This means that protected heirs, usually children, would have had a fixed right to at least a minimum interest in the estate. The new legislation, EU regulation 650/2012, also known as Brussels IV, now means that any British national who has property in Italy, or any other participating EU state (and who has taken appropriate action before their death) can choose either the law of the country of their habitual residence, or of their nationality (if you have multiple nationalities, then you choose one) to govern the devolution of their Italian estate. If you do not have any estate planning measures in place and you live in Italy permanently, all your property (even real estate properties abroad) will be subject to the Italian inheritance rules. If you live in the UK permanently (or in another country in the European Union) all of your estate, including property in Italy, will be subject to the inheritance law of the country where you live. In this situation, the new regulations mean that property in Italy won t be subject to Italian law. If you don t live in Italy permanently but you have a holiday home in Italy, the Italian law will apply to that house only, with the same restrictions. If you seek specialist advice and plan the settlement of your estate, the new regulations mean that you can choose which national law will be applied to the settlement of your estate. This can be done by making a will. Each situation is different and rules change frequently so we recommend you contact a specialist to take advantage of the new regulations

14 Finance Finance Mortgages Getting a mortgage in Italy can be a lengthy experience. In recent years, lenders have been more cautious and have put increased restrictions on borrowers. However many financial institutions are still willing to lend to non-residents. Mortgage products tend to be straight forward, with usually fixed rate and variable rate mortgages available. The majority of mortgages in Italy are at a variable rate. Mortgages in Italy are linked to the assessed property value. Most mortgage terms run from 5-30 years and they are expected to be repaid by age 70. The standard LTV ratio for non-residents is 60% but can be as high as 80% for residents. It takes between 8-10 weeks to arrange a mortgage from the time you make your application until you receive the loaned amount. Shop around and compare interest rates, terms and fees from a number of banks and financial institutions both in the UK and in Italy. When choosing between a euro loan and a sterling loan, be sure to take into account all costs, fees, interest rates and possible currency fluctuations, as currency swings and devaluations can wipe out any interest rate gains. We recommend that you seek professional advice through mortgage brokers or your bank and speak to our currency partner, Foremost Currency Group, to see how you can reduce any exchange-rate risks and be introduced to UK mortgage advisors. It is also useful to open a bank account in Italy as soon as possible to pay bills, taxes etc. You will need to transfer sufficient funds into the account to cover your deposit when you sign the preliminary sales contract. Taxes To get the most out of your individual situation, we highly recommend that you seek independent professional tax advice. Property Tax The property tax situation in Italy is constantly changing. Just when you think you have your head around the tax system it is altered often year upon year. It is important to understand both the purchase and ongoing property taxes and pay them on time otherwise you will be subject to hefty fines. Prima Casa is the status given to Italian residents whose property is their primary residence. Seconda casa is for holiday homes or second residences. Prima Casa status reduces the amount of tax you have to pay when purchasing your property and for ongoing property taxes. VAT IVA is payable on the purchase price of new properties and ranges from 4-22%. New residential properties are those that have been sold within five years of completion of construction or restoration. It is 4% for a primary residence (prima casa) owned by residents of Italy, 10% for second-home and non-resident buyers and 22% on luxury homes with a rating of A1 in the Property Register. Registration Tax Imposta di Registro For resale or older properties, registration tax is 3% for those buying their prima casa. The registration tax for non-residents and those buying second homes is 7%. Registration tax on the purchase of building land is 8%. Registration tax on the purchase of agricultural land is 10%. Sometimes it is possible to have agricultural land de-ruralised (deruralizzato) before the sale and then the tax payable reduces from 10% to 7% (or to 3% for prima casa). When a property comprises both an urban building and agricultural land, tax is calculated separately for the building and the land. These taxes are based on the declared value (cadastral value) rather than purchase price, unless you are purchasing from a company and then you pay taxes based on the purchase price. Registration Tax is not payable on new properties. Changes to legal, finance and tax situations relating to property purchases can occur at any stage we recommend you contact a specialist for up-to-date information

15 Finance Land Registry Tax Imposta Catastale Owners of a prima casa pay a fixed fee of 168 regardless of whether it is a new or old property. Buyers of second homes and non-residents pay 1% of the declared price of the property. Mortgage Tax Imposta Ipotecaria Owners of a prima casa pay a fixed fee of 168 and buyers of second homes and non-residents pay 2% of the declared price of the property. Municipal/Council Tax is made up of three taxes which have changed numerous times over the past few years. 1. IMU Imposta Municipale Propria This is an annual tax payable twice a year by the owner. It is paid to the Comune where the property is situated and is calculated at % based on the Cadastral value. Prima Casa are exempt. 2. TASI is a new tax on services such as street lighting. It is payable by all home owners or if the property is rented, a part will be due by the tenants. 3. TARI is the refuse tax, payable by all home owners and tenants in part. Capital Gains Tax If you sell your property in Italy then you are exempt from capital gains tax if it is your primary resident prima casa or if you have owned the property for more than 5 years. Capital gains tax is payable at 20% on the capital gain. Income Tax If you are a resident in Italy then you are liable to Italian taxation on your world-wide general income at progressive scale rates. Non-residents are obliged to make an annual return for income tax if they receive income from letting property in Italy. Net Wealth Tax If you are an Italian resident, you will need to pay wealth tax on financial assets located abroad at 0.2% of their market value at the end of the year. Due to regular changes to the legal and tax process, we highly recommend that you seek independent professional advice on the best way of managing your tax obligations from specialist firms. Visit our website for a list of recommended tax specialists

16 Case Study We trust this property guide will help your property purchase abroad go smoothly. Don t forget to visit our website, we have thousands of properties to choose from. Read about our clients Lionel and Ann-Francis Gore and how our services benefitted their purchase abroad. We saved 3,000 using an 80,000 forward contract for European home purchase. Lionel and Ann-Francis Gore recently sold their home of five years in Hornchurch, Essex, to make a permanent move abroad in pursuit of a more relaxed lifestyle. Planning ahead is key to making a move overseas, so Mr and Mrs Gore decided the best course of action would be to rent initially, allowing them to search for their dream home while being based in the country they wished to buy in. Keen to be able to budget effectively, they spoke to Foremost Currency Group to fix an exchange rate using a forward contract. By fixing a forward contract we were able to lock in the sterling/euro exchange rate while it was around the best it had been since 2007, meaning we now don t have to worry what happens with the rate whilst we are shopping for a new home over the next few weeks, says Lionel. We know exactly what we have in euros to spend, which allows us to budget effectively. We were pleased that we fixed a rate while it was so good and by booking a forward contract rather than simply using the bank, overall we ve saved more than 3,000. For other services we recommend, visit foremostpropertygroup.co.uk/partners/ to view our list of services you may find useful when purchasing your home abroad. TRUST When buying your ideal property abroad you need to make the most of your currency Our knowledgeable brokers have helped over 15,000 customers move money abroad for property purchases. They understand the importance of timing transactions for your house deposit, final payments, renovations or ongoing payments. Don t hesitate to speak to one of our brokers today to find how you can make the most of your currency. Visit our website foremostcurrencygroup.co.uk or call +44 (0) The Foremost Currency Group Limited is authorised by the Financial Conduct Authority (FCA) for the issuing of electronic money under the Electronic Money Regulations 2011 [FRN ]. Registered in England: No We are supervised by the FCA for compliance with the Money Laundering Regulations (MLR) 2007.

17 together we discover... Foremost Property Group Limited Sutton Court Church Yard Tring Herts HP23 5BB UK Disclaimer. This guide is provided for general information purposes only and none of the information represents formal advice. Foremost Property Group cannot be held responsible for the consequences of decisions or actions you take throughout the process of purchasing a property. We strongly recommend that you seek independent advice at all stages of the buying process. Copyright Foremost Property Group Limited, No part of this document may be reproduced, stored or transmitted in any form or by any means, electronic, photocopying or otherwise, without permission of Foremost Property Group Limited. Foremost Property Group Limited (Company No ) is owned and operated by The Foremost Currency Group Ltd (Company No )