Buying your home in Spain is a dream come true, but there are many important things to consider when it comes to buying and transferring funds from the UK to Spain. Since buying a property involves taking into account the actual price of the home as well as any related costs such as paying taxes and fees, which can be as high as 8 and 15%, it is vital that you consider your finances, minimise your expenses and have a solid plan with a forex broker.

Costs to consider

It is important to work out your budget for buying your property, taking into account all of the related costs. One of the first things to consider is the property transfer tax which is around 10% of the purchase price and every region in Spain sets its own one. For example, in Andalucía, a property that costs up to €400,000 will have a property transfer tax of 8%, whereas over that and up to €700,000, you will have to pay 9% or 10% if the property costs over €700,001. But this is not all. When you buy a home or a plot of land, you have to register with the land registry, so you get your deeds. The fee for this can be €500.00 for a property of €100,000.

When you are signing your contracts and buying property this is conducted in the presence of a notary who will also charge a fee to verify the documents and the act taking place. Again, the notary fees depend on the price of a house, so for a €100,000 property, you will need to pay €800.00 for fees.

When you are buying, you will also need a solicitor to represent you and whose fees will be around 1% of the purchase price. Also, you will have to pay the commission of the estate agent, if there is one, and it is usually included in the property price.

How to Save Money

As always, getting some extra help from experts could relieve some stress and save you money. A very useful thing to do is contact an estate agent who knows the area you want to buy in well and who can give you more insight, help you understand market prices and explain the process of negotiating a price further. They might save you a lot of money by explaining the right price for a specific purchase and help you have the upper hand in the negotiations by providing valuable background on the purchase.

Additionally, someone who speaks the language and who can explain the process, such as a lawyer who can act on your behalf and elucidate complex legal issues, is a great asset. They will be able to point out things to watch and avoid such as illegal property building or planning which might cost you money to resolve later.

Paying with cash is always a great advantage as you can pay less and is something to consider if you are willing to do so.

A useful point to consider is paying for a survey of the property to make sure there aren’t any underlying problems and ensure that the structure of the house is solid, otherwise, if there are issues you can negotiate a lower price or save yourself the trouble and money.

Use a currency specialist

Transferring sterling to euro can cost you bank fees. To avoid unnecessary expenses, it is wise to use a currency transfer specialist such as UPFX that they can transfer funds for your purchase. Not only will they offer you competitive exchange rates, but they will make sure that your funds are protected from currency fluctuation.

When you are buying, it is good to consider buying offseason, negotiate the price and get a special deal and be open to change your requirements and find something that is much cheaper. You might be surprised at the opportunities you might find when taking a step back and looking at locations or properties you may have not considered before.

If you are a British buyer, and want to secure a strong investment opportunity, now is the time to get in touch with your currency broker. A currency specialist such as Universal Partners FX can help you navigate the current market while taking into consideration your specific needs, goals and your budget.

When considering buying your dream home in Spain, Universal Partners FX can give you peace of mind when sending money overseas. If you want to schedule ahead and safeguard your funds, talk to one of their foreign exchange experts today.


Universal Partners FX are delighted and proud to celebrate hitting a milestone on independent review website, Feefo. With 100 reviews received and all of them being 5-star ratings, we thank our staff for their hard work and all of our clients who reviewed us to help us reach this point.

The reviews come from our business and personal clients, all of whom gladly shared their positive experience in sending money overseas.

Our team is equally as attentive and hard working for repeat business customers - who need to pay their suppliers every month – and one-off transactions made by individuals.



To have an overall score of 5 out of 5 stars on Feefo is exceptional but comes down to hard work and the excellent relationships we have with our clients.

All Feefo reviews are verified, meaning accuracy and legitimacy is guaranteed, you can read them here.

Oliver Carson, Director of Universal Partners FX said: “From day one we train our staff to not only be experts in currency exchange, but also be attentive, respectful and extremely hard-working. It is very satisfying that this is paying off and we are being recognised by our clients, which is the most important thing”

“To get to 100 is a great result, but we hope this only strengthens as the company continues to grow.”

To get a quote for your foreign exchange, just click here

Transferring Money To A Foreign Bank Account

Whether you’re looking to purchase a property overseas, pay international bills or are interested in foreign investment, one thing that is pretty much standard for all of these things is that you will have to send money abroad and most likely will need to transfer the funds to a foreign bank account.

To begin transferring money to a foreign bank account with Universal Partners FX, follow these simple steps:

  • Sign-up for a personal account or business account
  • Log-in to check our live exchange rates and secure a quote for your currency transfer
  • Submit the details of your bank and the foreign bank account you’d like to transfer the money to
  • Finalise and submit your transaction

Yes, transferring money to a foreign bank account with us is really that easy. You can choose to set-up a single or recurring transaction through our online money platform, providing you with fast and secure money transfers.

Why choose Universal Partners FX?

When a person needs to send funds abroad, they will typically head down to their bank and start the process there as it seems the most convenient way to do so. Unfortunately, despite the convenience that banks offer, they often charge higher margins above the daily exchange rate to account for risk as well as adding a substantial transfer fee. By choosing Universal Partners FX to transfer your money to a foreign bank account you gain access to several benefits, including:

  • Receiving a quote for your transfer based on live exchange rates at a decreased margin that banks typically offer
  • Swift, secure transfers that allow your money to arrive at its destination safely
  • Take advantage of our currency transfer services such as spot transactions where you are able to target a specific exchange rate
  • 24/7 customer support from one of our foreign exchange experts
  • Access to our innovative online money platform

As well as providing a more cost-effective and supportive method of transferring money to a foreign bank account, we also offer access to a range of risk management strategies such as forward contracts and hedging plans that help to protect you against volatile market fluctuations.

Making your life easier

When you choose to send money abroad, it can often be quite a confusing process with so many names and different banking codes needed to complete a transaction. That’s why by choosing Universal Partners FX instead of a typical foreign exchange provider, you are able to complete your overseas transfer in a simple way that’s easy to understand. Our online registration can be completed in just a few minutes and will guide you through the entire process so that you know exactly what information is needed to ensure your transfer goes through successfully.

Just a few steps away

Once you’ve signed up for an account with us and it is active, you are then able to send your funds to us to transfer to a foreign bank account of your choice. The entire process usually takes 1-5 business days depending on the country you’re transferring to and the currency pairing. Whether it’s for personal or business reasons, you shouldn’t think twice about choosing Universal Partners FX when transferring money to a foreign bank account.

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