Don’t take our word for it

CD: Why did you want to buy in Orlando, Florida?

Fiona: I was looking to buy a property purely for investment and I was advised that if I was looking in Florida the property had to be in Orlando and within 15 minutes of Disney to get the best return on my investment.

CD: Why did you decide to buy overseas?

Fiona: I was originally looking for an investment property in the UK but a family friend who works in the property industry suggested I look overseas due to the current climate in the UK property market. I researched various countries including Croatia and the USA and eventually settled on Florida due to it’s year round tourist industry which improve my rental opportunities.

CD: What type of property have you bought?

Fiona: I bought a one bedroom apartment in a re-developed hotel. The hotel was a former Hilton property which means that it has everything that a family could need, including manager’s cocktail parties with free food!

CD: How did you research buying your property?

Fiona: After I’d decided on Florida I went to a property exhibition at the GMEX in Manchester. At the exhibition I attended a seminar by property agents Florida Countryside. I used their knowledge and experience to help find my property in Orlando. They were able to advise as to what type of properties would get the best rental return and also in which areas I should be looking.

CD: Were there any problems during the purchase?

Fiona: The first development that I had my name down for was delayed and then cancelled because of a legal issue between the owner and the developer. It then took 12 months before we finally closed on a second development. I also had a problem with getting some of my payments to Florida because the bank decided to bounce back a payment for no apparent reason and another payment got lost. I say lost but what actually happened was that the recipient simply didn’t look hard enough for it!

CD: What advice would you offer to others considering buying overseas?

Fiona: Make sure that you choose a reputable real estate agent.

CD: Have you got any friends or family who have bought property overseas?

Fiona: The family friend who recommended that I look overseas for an investment had a villa built in Spain.

CD: If you are using your property as a holiday home how often do you intend to use it and will you rent it out when you are not using it?

Fiona: Disney is not my idea of a holiday; however, because of this property I am a member of a world wide association where I can swap my apartment for another anywhere in the world at a time of my choosing, although I’ve not tried this yet.

CD: Why did you choose to use Currencies Direct?

Fiona: They were recommended to me by Florida Countryside. But before I actually needed the money for the property I used Currencies Direct for overseas money transfer for my business as I often have to pay suppliers in the US.

CD: Did you approach your bank about arranging the currency transfer?

Fiona: No. Once my business had used Currencies Direct I realised that I was better off using them rather than my bank.

CD: What would you recommend about Currencies Direct’s service?

Fiona: The service I received was very efficient and I can do everything from my desk – there’s no need to physically see anyone. Currencies Direct also monitor the markets which meant that I got a better currency rate, plus there were no commission charges or transfer fees. Also if anything does go wrong you have a personal dealer to help you through it.

CD: Please tell us about anything else that you think will be of interest that has not already been covered.

Fiona: Anyone worried abut Florida and Hurricanes … Disney were not daft when they build where they did….stick close to them! Disney is inland and the hurricanes loose a lot of their energy when they touch the land. Last year (before I bought) a hurricane did hit the Disney area, our resort did not have any structural damage although there were some trees and plants affected.

CD: Why did you want to buy there?

Thomas & Wendy: Because it is on a good bus route and is walking distance to tourist areas. The property itself is situated in the Spanish area which means that we can experience true village life.

CD: Why did you decide to buy overseas?

Thomas & Wendy: We have been going to Tenerife for long stays since we retired six years ago and got a little fed up with rented accommodation. Having our own property gives us freedom to go when we like and without a lot of luggage.

CD: What type of property have you bought?

Thomas & Wendy: We bought an off-plan property but it is the last one for sale and was an ex-show house.

CD: How did you research buying your property?

Thomas & Wendy: We have been looking in Tenerife for 6 years thinking about it but this seemed to be the right property in the right place for us.

CD: Were there any problems during the purchase?

Thomas & Wendy: No

CD: What advice would you offer to others considering buying overseas?

Thomas & Wendy: Go into it very carefully. Research the area where you want to live and consider what you want to get out of it i.e. whether you want it for rental or for your own personal use.

CD: Have you got any friends or family who have bought property overseas?

Thomas & Wendy: Yes

CD: If you are using your property as a holiday home how often do you intend to use it and will you rent it out when you are not using it?

Thomas & Wendy: 3 or 4 times a year for approx 1 month at a time. We don’t plan on renting it out at all, however our children will be able to use it for themselves and their families.

CD: Why did you choose to use Currencies Direct?

Thomas & Wendy: We were recommended by some friends who used Currencies Direct when they purchased a holiday home on the Spanish Mainland

CD: Did you approach your bank about arranging the currency transfer?

Thomas & Wendy: Yes

CD: What would you recommend about Currencies Direct’s service?

Thomas & Wendy: It was easy – a good partnership. Good advice good communication and the best currency rate at the time. It was efficiently done and everything went like clockwork.

CD: Where in America are you moving to?

Pat Sawyer: I intend to live Sarasota on the West coast of Florida. The business is actually in Bradenton, 9 miles north of Sarasota.

CD: Why have you decided to leave the UK?

Pat Sawyer: There are a number of reasons that have led to my decision. I have worked for the past 20 years as a freelance workshop facilitator working for various local authorities around the country. The job has involved a lot of travelling. One of the reasons for my wanting to change my work is that I am tired of sitting for hours in traffic jams in order to get to and from a venue. The other side of my work is in healing. I work with innovative approaches to healing and to change. After doing this for some 15 years, I am tired of the apathy that is so prevalent in the UK about such tools for change.

The bottom line is that I have done what I have done very successfully for the past 15 to 20 years, want a change and see no way of making that change in the UK.

CD: Why have you chosen America, and in particular Florida, to move to?

Pat Sawyer: Why America? I decided that I wanted to leave the UK about 4 years ago and started the search to find a place in which I would feel comfortable and at home. The intention was always to do this alone so I wanted to take that into consideration. I explored, either theoretically, or by visiting, a number of options around the world. While I was doing this, I continued to make regular visits to America for workshops and to visit various friends that I had made over the years.

I had initially dismissed America as a possibility because I thought it was impossible to get into but I realized that it was the only country to which I actually wanted to go. I have been visiting in various capacities for the past 10 years or so and always feel at home there. Once I made that realization, I began to focus on getting it to happen. At that point, I had an elderly mother and cat in my life and committed to do nothing while they were with me. My mother died three years ago and my cat died in January 2005.

Why Florida? In March of this year I went over to America for three months with the intention of travelling to various places that I liked to see if a) I saw it as somewhere to live AND b) that I could find a business there. My assumption was that I was going to end up in California at that point. I had friends and contacts in San Diego, San Francisco and Sacramento so it seemed an obvious target. Having spent time in all three places, it just did not feel right for me to live there. Nothing fit the bill and then I saw Take One on the website and followed the trail to Bradenton, fell in love with the area, the business fit and so it all fit into place. This happened 10 days before my three month Visa ran out! I returned to the UK, finalized the purchase and took ownership of the business in September 2005.

Why do I like America? I like the openness, the ‘can do’ attitude. I like it that people are friendly and they talk to you. I like the expansiveness and the ‘childlike’ ways of America. When I say childlike I mean there is a sense of exploration and wonder about life and a generosity that I find touching and wonderful to be part of. However, I am not immune to the other side of these childlike ways; I see that too.

The main difference is in the attitude. Americans start with the default position of ‘can do’ and the English start with a default position of ‘can’t do’. America is a country of extremes and I really like that.

CD: What are your main worries about starting a new life in America?

Pat Sawyer: Good question. In terms of the business, I have a massive learning curve ahead of me. I am very familiar with a lot of life in America on a day to day basis but I know nothing of the more official way of life and will need to get used to that very quickly. The same applies to everything at first. Just going to the shops to buy something specific will be a major event in terms of finding out where to go. Everything will be familiar to me but it also very different.

I guess the main thing is dealing with the official aspect of getting to live in America. The immediate issue there is the Visa and the way that it is all set up. I need to complete the purchase of the business THEN apply for the Visa to stay and run it. In the meantime, I can only be officially in the country as a tourist. So, I could end up with a business and no Visa. Unlikely given the way I am doing it but it is possible. While I agree that people should fulfil certain criteria in order to live in another country, it does all seem a little back to front.

I am not anticipating an issue with meeting people and gaining a network of friends locally. I have already made contact with two people who know mutual friends who live in Sarasota and have two others coming to visit me. I am also confident that I will be able to earn a good living over there. Once the business is operating as I want it to and find my niche in the business, I can then develop some other projects that are already developing with other individuals and organizations.

CD: What would you recommend about Currencies Direct’s currency exchange service?

Pat Sawyer: I have found my dealings so far to be great. Everyone has been extremely friendly and efficient, and very understanding and helpful when there was a slight hiccup with one of my payments. It’s such a relief to have the confidence in an organisation, especially in the midst of such upheaval and uncertainty.

CD: Why did you want to buy in Estepona?

Mark Manley: It’s located by the sea with views of Gibraltar. It’s close enough to the nightlife of Puerto Banús but not too close to it! There’s also easy access via several airlines to Malaga.

CD: Why did you decide to buy overseas?

Mark Manley: Mainly the weather. I wanted to have a bolthole away from the grey and wet UK in the winter.

CD: How did you research buying your property?

Mark Manley: On the internet and through magazines. I also made visits to several countries and possible locations for purchase. I also had recommendations from friends and clients and finally I spoke to a recommended and reliable agent with a lot of experience.

CD: Were there any problems during the purchase?

Mark Manley: Only just before completion when I learned that asking a UK bank to transfer money immediately is akin to asking for a free flight to the moon! I didn’t get “Que?” as an answer – but it wasn’t far off!

CD: What advice would you offer to others considering buying overseas?

Mark Manley: The research stage is absolutely critical. Make sure you ask yourself the following crucial series of questions:

a. How much can you afford – don’t go beyond your budget
b. What do you know about the area you are looking in? Visit – seeing things on the net is no substitute. Take a year and visit several places. When you think you know the area you want to buy in make several visits to it at different times of the year
c. Accessibility is critical if it’s just a holiday home. How long is the flight there and do a lot of airlines have routes there? Also, what is the travel time from Airport to your home?
d. Do you have friends or family who have bought in that country? Who did they use and were they good?
e. Plan how often you realistically think you can travel to your holiday home
f. When you visit before a purchase, speak to other British people who own homes in the area to find out its pros and cons
g. Do your research on the net about activities in the area, climate changes over the past 5 years, and any planned development where you are thinking of buying
h. Get a good, English speaking agent in the area via recommendation – ditto with the local lawyer
i. Read about the legal and tax aspects of the property purchase on the net and in books – there are hundreds of sites and books with all the information you need
j. Consider banking – look at the pros and cons of having an account abroad (which you will almost certainly need) and take advice on which one to go with.
k. Shop around if you want a foreign mortgage and think twice about taking it. The rates are often lower but in a lot of foreign countries there is the equivalent of stamp duty on a mortgage – not just the purchase.
l. Also be aware of how currency fluctuations can massively affect how much you pay on purchase. You can save or lose a lot of money by agreeing to a completion or transfer at the right/wrong time
m. See it as a long term investment and not a quick kill
n. Beware of schemes which offer you a big reduction on local taxes by doing a “cash” deal for part of the purchase price. Don’t forget that when you come to sell the property the capital gains taxes will then be a lot higher and you are likely to lose out in the long run. Penalties for flouting foreign tax laws can also be severe – just pay the appropriate taxes and ignore cash deals – you can sleep better in your new pad!
o. Don’t start telling all your friends you will let them stay in your place – when you have slaved to get it as you want it you will find yourself far less willing to let your friends and their hyper active children have the keys!
p. Finally, start learning the local language. It is very, very important. You WILL need to use it at some point and you will be accepted much more quickly when you at least try.

CD: If you are using your property as a holiday home how often do you intend to use it and will you rent it out when you are not using it?

Mark Manley: Yes – every 6 weeks for a long weekend and 3 weeks in school holidays throughout the year. Renting – see above! Fully intended to – but not now!

CD: Why did you choose to use Currencies Direct?

Mark Manley: I read about it in the Easyjet flight magazine and in another magazine about buying abroad. It sounded sensible. On the currency transactions I made I calculated that using CD saved me in the order of £12,000. The team’s response times are fabulous and they are willing to give sound guidance on what is likely to happen to the currency rate in the next few days/ weeks – Mark O’Sullivan was assigned to me. I cannot sing his praises too highly. He was a star.

CD: Did you approach your bank about arranging the currency transfer?

Mark Manley: Yes and they wanted to help – but it would have been considerably more expensive than using Currencies Direct.

CD: What would you recommend about Currencies Direct’s service?

Mark Manley: Speed, expertise and great customer relations.

CD: Why do you make regular transfers to Spain?

Viv Smith: We both receive our pension in the UK so each month we need to transfer them from our UK account over to our account in Spain.

CD: How long have you been making regular money transfers for?

Viv Smith: We have been transferring our pensions to Spain for the last three and a half years.

CD: Did you use your bank before Currencies Direct?

Viv Smith: Yes, when we first started to send our money over we did use our bank in the UK to make the transfers.

CD: Why did you switch to Currencies Direct for your regular transfers?

Viv Smith: We switched to Currencies Direct because we found them to be much cheaper than the bank as their regular transfers are free. Plus the actual transfer is much simpler as everything is done by direct debit which means that once it is set up we don’t have to do anything.

CD: What would you recommend about Currencies Direct’s service?

Viv Smith: We have found Currencies Direct to be very efficient and because there is an office close to us in Spain it means that if we have any questions we can just call in.

CD: Do you have any advice for anyone else needing to make regular transfers?

Viv Smith: Make sure that you do your research and compare the charges and procedures for different providers before you start to make your transfers. We found that both Currencies Direct’s charges (there aren’t any) and their service was far superior.