Hi,
Does anyone have any recent experience of transferring the proceeds of a house sale from Fuerteventura back to the UK? What is the most economical way to do it? I'm using a solicitor, as I'm in the UK, so the funds will be with them initially. Many thanks
Whatever you do don't use the banks for exchanging your money. There are plenty of money transfer companies available. I've used Transferwise a lot recently from sterling to euros and it works exactly the same way in reverse.
For anyone else who sees this, transferwise works well, but for large amounts you want the best rate and that will be with currencyfair. They are based in Ireland so you get the bank of Ireland protection, but it may take a little longer than transferwise.
You transfer your euros into their account, then the euros sit there until you decide to buy the GBP, which is an instant transaction. Then you can let the GBP sit in their account until you do a withdrawn to a GBP bank account. You can also do lots of transfers if you want to hedge the rate you could by the GBP in lots of smaller transactions. I have used it for USD/GBP/EUR.
If you want to thank me for the tip, use my referral link ;) www.currencyfair.com/rafland/?channel=R9R3A1