Porto Paradise
‘Watch out for sellers asking crazy prices’ – Alex Hopkins was warned by friends when looking for property in Portugal. His search centred on the Douro Valley near to Porto, Portugal’s second largest city.
There are bargains to be had, but research is important, as is nerve. Often this type of property needs renovation work and it’s easy to be put off by scruffy first impressions. However Alex found the perfect place in the heart of the Douro Valley. Having secured the property at the start of this year his attention naturally turned to the weakening pound and the best way to finance his Portuguese dream. A friend recommended CaxtonFX, a leading currency specialist who offered Alex a forward contract. By paying a 10% deposit he was able to fix the rate and protect himself against sterling as it continued to weaken against the pound. He commented ‘Caxton gave me a fantastic exchange rate. I wasn’t sure about the forward contract as first, but Rachel, my Account Manager explained
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