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 Post subject: Mortgage
PostPosted: February 6th, 2010, 11:48 am 
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Joined: November 4th, 2008, 2:58 pm
Posts: 23
Hi all,

Was wondering if anyone can help.I am in the process of buying my apartment with an Italian mortgage (Barclays) and hoped if anyone had any suggestions on transfering the monthly payments as some banks charge between £10-£20 per transfer.Not sure if it was worth transfering 3 or 6 months at a time.

Thankyou

Angel


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 Post subject: Re: Mortgage
PostPosted: February 6th, 2010, 12:10 pm 
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Joined: October 30th, 2009, 5:51 pm
Posts: 183
Location: Berkshire/Marina di Caulonia
Have you tried a currency firm such as Moneycorps or others as suggested in various postings.


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 Post subject: Re: Mortgage
PostPosted: February 6th, 2010, 12:24 pm 
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Joined: November 4th, 2008, 2:58 pm
Posts: 23
No i havent but will do now many thanks.


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 Post subject: Re: Mortgage
PostPosted: February 6th, 2010, 1:32 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 453
Location: N Ireland
Angel, I think it's better to open an Italian bank account to make the monthly payments. My mortgage is also with Barclays and I plan to open an account with them. However you should check other threads on the forum for discussion about bank fees. Moneycorp charge £15 per transaction.


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 Post subject: Re: Mortgage
PostPosted: February 6th, 2010, 1:38 pm 
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Joined: June 17th, 2009, 8:06 pm
Posts: 20
Hi Angel,
I'm buying in Brancalone(palm view) I also work for EscapeCurrancy, if you PM me, I can tell what options there are & savings..

Regards
Trevor


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 Post subject: Re: Mortgage
PostPosted: February 6th, 2010, 9:33 pm 
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Joined: August 8th, 2009, 11:38 am
Posts: 81
I use http://www.fairfx.com - they will soon have an on-line facility where you can do it all yourself in future. For now I ring, deal and sort the paperwork by eMail & on-line transfer to their UK Barclays. Once they have the money, it goes the same day to Barclays Milano.

Fairfax charge £10 transaction fee, but give you much better rate than "your UK bank" I save here and transfer 'a chunk' when the exchange rate is favourable - got nearly 1.15 last week on 5K


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 Post subject: Re: Mortgage
PostPosted: February 6th, 2010, 10:59 pm 
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Joined: January 26th, 2009, 5:50 pm
Posts: 35
dmbt54 wrote:
I use http://www.fairfx.com - they will soon have an on-line facility where you can do it all yourself in future. For now I ring, deal and sort the paperwork by eMail & on-line transfer to their UK Barclays. Once they have the money, it goes the same day to Barclays Milano.

Fairfax charge £10 transaction fee, but give you much better rate than "your UK bank" I save here and transfer 'a chunk' when the exchange rate is favourable - got nearly 1.15 last week on 5K

Hi Angel.

If you are a Barclays customer you can transfer £1000 free every transaction with Barclays Buying abroad.I transfer £1000 every 3 months from my Barclays uk account to my Barclays milan account for free.

I hope this helps

David


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 Post subject: Re: Mortgage
PostPosted: February 7th, 2010, 5:33 pm 
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Joined: May 1st, 2008, 11:15 am
Posts: 490
Hi David

I understand the free transfer is going to end and that from the 1st April there will be a charge made for this service .

lorica


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 Post subject: Re: Mortgage
PostPosted: January 28th, 2011, 3:21 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 453
Location: N Ireland
As my Barclay's Italian mortgage has just expired, I'm also trying to raise the funds at home on my UK house. Apart from saving 2000 euros approx on the notary fee does anyone know which is the better option, a UK or Italian/Euro mortgage? I would appreciate any advice/opinions.


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 Post subject: Re: Mortgage
PostPosted: January 28th, 2011, 5:54 pm 
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Joined: July 12th, 2009, 9:47 pm
Posts: 45
I'm no expert, but you have to take into account the exchange rate (quite poor at the moment) and also consider if you are renting it out, and the currency you are being paid in, i.e. if paid in euros then probably better to have a euro mortgage. I believe there is an extra cost initially though with the notary if you have a mortgage.


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 Post subject: Re: Mortgage
PostPosted: January 28th, 2011, 6:44 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 453
Location: N Ireland
Thanks, wwheels, the current exchange rate is a factor. I have an Italian Barclays account (opened in anticipation of the mortgage!) so will get euro rentals paid directly there to pay utilities etc and sterling rentals paid to UK account. The notary fee is double so 2000 extra for a mortgage.

I was wondering are there any other factors that I should take into account.


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 Post subject: Re: Mortgage
PostPosted: February 1st, 2011, 6:28 pm 
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Joined: September 16th, 2010, 11:58 am
Posts: 7
Location: Hessle, East Yorkshire.
Hi Evie

Please feel free to contact me should you require any mortgage advice.

Kevin Macadam
www.overseasmortgagebroker.co.uk


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 Post subject: Re: Mortgage
PostPosted: February 2nd, 2011, 6:19 pm 
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Joined: December 2nd, 2009, 3:16 pm
Posts: 453
Location: N Ireland
For anyone who (like me) is having mortgage problems, it's worth talking to Kevin Macadam - he phoned me today with some useful information and is knowledgable about both UK and foreign mortgages.


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 Post subject: Re: Mortgage
PostPosted: February 9th, 2011, 11:38 pm 
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Joined: January 10th, 2011, 1:13 pm
Posts: 1
Location: scotland
hi there i looked on a site called martins money tips today which have good suggestions regards transfering money abroad hope this helps


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