Currency Transfers for Property Buyers in Spain
Buying a property in Spain is a dream for many, but transferring large sums of money from abroad can quickly become one of the costliest steps in the process. Many international buyers rely on their high-street banks, not realising that they are losing thousands of pounds or euros through hidden fees and poor exchange rates.
If you are planning a property purchase in Spain, choosing the best way to transfer money is as important as choosing the right house. In this guide, we’ll explain how currency transfer specialists like Lumon can help you save, why so many expats in Costa del Sol trust them, and how to avoid unnecessary losses when moving your funds.
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Why Currency Transfers Matter When Buying Property in Spain
The hidden cost of using banks
Most property buyers are unaware that banks add a significant markup to the exchange rate. This margin is often between 2–4%, meaning that on a £200,000 transfer you could lose £4,000–£8,000 without noticing.
In addition, banks often charge international transfer fees on top, which can range from £20 to £50 per transaction.
Exchange rate margins explained
When you see an exchange rate on Google, that’s the mid-market rate. Banks rarely offer this rate. Instead, they apply their own margin, keeping the difference as profit. Currency specialists like Lumon work with much tighter margins, meaning you keep more of your money.
The Best Way to Transfer Large Sums for Property Purchases
Why specialists outperform traditional banks
Currency specialists are designed for large transfers like property purchases. They:
Offer significantly better exchange rates.
Provide personal account managers who understand property transactions.
Allow you to lock in rates ahead of time (so you don’t lose money if the market changes).
Real case: Buying a €300,000 home in Costa del Sol
Imagine you are buying a €300,000 property in Mijas. If your bank offers an exchange rate of 1.12 while the mid-market rate is 1.15, you’re already losing €7,800 just on the rate. With Lumon, which operates closer to the mid-market rate, you could save most of that amount.
👇 Don’t lose thousand to poor rates 👇
How to Save Money on Your Property Transfer
Avoid hidden fees and poor rates
By working with a currency specialist, you:
Avoid flat transfer fees.
Get transparency on exchange rates.
Know exactly how much will arrive in Spain.
Secure, FCA-regulated services you can trust
When transferring large sums, safety is essential. Lumon is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, giving you peace of mind that your money is protected.
👉 Learn more about the FCA here: Financial Conduct Authority
Step-by-Step Guide to Currency Transfers for Buyers
1) Planning your transfer before signing contracts
Currency planning should start as soon as you make an offer on a property. Exchange rate fluctuations between offer and completion can change the final cost dramatically.
2) Locking in exchange rates (forward contracts)
With Lumon, you can secure a favourable rate in advance. This is called a forward contract and ensures you know exactly how much your property will cost in your home currency, no matter what the markets do.
3) Working with a dedicated currency specialist
Unlike banks, currency specialists assign you a personal account manager who understands the Spanish property process and can guide you through each step.
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Why Expats in Costa del Sol Choose Lumon
Local expertise + international reach
The Costa del Sol is one of the most popular regions for British and European buyers. Many have chosen Lumon because:
They combine international coverage with local understanding.
They know the Spanish property purchase process inside-out.
They can work directly with your solicitor or estate agent to ensure smooth transactions.
Testimonials
Richard L: When buying our villa in Marbella, Lumon saved us over £5,000 compared to our bank.
Michelle E.S: “As retirees moving our pensions, Lumon made the process simple and stress-free.”
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Transferring money for your Spanish property purchase doesn’t need to be stressful or expensive. By choosing the right partner, you can save thousands and ensure your funds arrive securely and on time.