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Q:
I will shortly be selling my house and moving to Germany. I would like some advice on how to get the best exchange rate on the money from the sale of my house into euros and transferring the money to a bank account in Germany, or if you could give me an idea where I could get the information I need.
J Emerson, Hartlepool
A:
Jonathan Davis replies:
I always recommend that my clients go to specialist currency brokers for this
type of transfer. If you ‘Google’ the words “currency transfer” (keeping the double quotation marks), you will find a host of firms offering low-cost services.
For this type of transaction, I would think it appropriate to telephone three or four to gauge the savings compared to high street banks, to whom we would normally think of for these transfers. You might also consider a firm we know to be competent in this area, Caxton fx – more details at www.caxtonfx.com.
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12 April 2008 [0 comments]Q:
My wife and I have transferred ISAs, shares and unit trusts totalling around £135k to the Hargreaves Lansdown Vantage Service. The investments are held in the name of Hargreaves Lansdown Nominees, but we remain the beneficial owners.
In view of the recent problems in the banking sector I am wondering what our position
would be if Hargreaves Lansdown became insolvent. Would the full value of our investments be returned to us, and how straightforward would this be to arrange?
Many thanks.
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