As seen on Business Insider on Monday 18th of November 2019.
Article Updated on 19th of November 2020.
Joining Forces – Leading Mortgage Adviser Alexander Hall and Ground-breaking FX Provider Privalgo Announce Strategic Partnership
Interest from overseas buyers for property in London is increasing as the market looks to move past the turbulent year of 2020 and towards 2021. With positive news of a vaccine on the horizon and a Brexit deal looking more likely, there is a renewed feeling of optimism heading into the new year for the London market and UK property markets as a whole
Research has revealed that the proportion of domestic properties in central London bought by international buyers hit its highest level in six years, with 57 percent of homes bought in the capital’s most sought-after postcodes in the second half of 2018 being acquired by an international buyer.
Two of the most crucial aspects of buying a property for overseas buyers are securing appropriate borrowing and navigating the foreign exchange and fund transfer process – both require trustworthy, swift and hassle-free delivery. When it comes to foreign exchange, buyers tend to use traditional banks that typically charge between three and five percent on the transaction, or new digital banks and platforms that provide little in the way of service. With increased volatility in currency markets, fluctuations between exchange and completion can lead to much higher costs. This is where Privalgo comes in.
For more than 25 years, leading UK mortgage provider Alexander Hall has been successfully assisting international buyers to secure the most competitive borrowing from a pool of over 100 lenders. Privalgo’s approach aims to put the control back in the hands of the client by providing the tools, knowledge and transparent pricing.
With both companies committed to harnessing technology with a supportive and personal service, the synergy between Alexander Hall and Privalgo will provide a frictionless service to overseas property buyers.
Says Thomas Davies, Sales Director at Alexander Hall: “We are delighted to be embarking on this collaboration with Privalgo. We have the same values regarding technology and personal service, and we believe that this partnership will provide our clients with the security to ensure they receive best financial outcomes when transferring currency.”
Says Matthew Clarke, Founder of Privalgo: “Partnering with Alexander Hall is a perfect match for ourselves and our respective clients. We can see great potential for growth in this partnership and we look forward to working with a company that shares our values and aspirations.”