Could you swap your drizzly British summer for a place in the sun?

International payment specialists reveal how you might make your money grow, and in a warmer climate too.

There aren’t many UK citizens who can honestly say they’re not looking forward to summer this year – with potentially coronavirus restrictions off the table, and being able to reunite with friends and family again. However, with many a celebration set to be outdoors, there is still a real lure to escape to sunnier climates, especially as so many missed out on holidays in 2020. 1.3 million Brits have escaped the drizzle of Britain, making Europe their home in the past. But, if you’re considering buying a place in the sun, you’ll quickly realise that the complications and cost lie in far more than just the holiday home itself.

Mail Finance has partnered with international payment specialists moneycorp to create Mail Finance Money Transfers, so readers have access to a knowledgeable and award-winning service to send money when making the move to warmer climates.

Take your pick of the top three destinations for British expats and find out how a currency expert can help ease the cost of the transition and might even help your investment grow.

Top 3 summer home destinations for British expats 1. Spain

More than 300,000 Brits were recorded as living in Spain, according to the UK Embassy. The number of expats over the age of 64 has more than doubled in the past ten years, which isn’t surprising when you look at the stunning weather, gorgeous beaches and how much more you can get for your pound.

2. France

There are just under 200,000 UK expats listed as living in France, lured by its sunny coasts, lush vineyards and rich culture. Because the UK is right on France’s doorstep, popping home to visit family and friends is relatively inexpensive and quick, giving expats the best of both home and away.

3. Portugal

From the main city of Lisbon to the quaint villages of the countryside, Portugal offers a diverse landscape to the 25,000 British expats that currently call it home. The relaxed atmosphere and warm climate make Portugal an ideal retirement destination – a third of Britons who live in Portugal are over the age of 65.

Getting expert help to start your move

Paying deposits or funding home improvements on properties abroad can be incredibly costly – when you’re channelling thousands of pounds through a potentially unstable currency market, the loss could be substantial. Similarly, you could gain far more euros for your pound if you track the markets and pay at just the right time.

Unfortunately, it’s not possible to predict the ever-changing currency exchange market. That’s why it makes sense to have an expert on your side. Sending funds through Mail Finance Money Transfers gives you access to potentially advantageous services not typically offered through the average highstreet bank.

Targeted rates

Instead of watching the currency markets yourself, you can opt to target a rate through an exchange specialist. You’ll be able to set alerts for your desired rate and get an email or SMS when it becomes available, saving you time and effort.

Forward contracts

Once your preferred rate has been reached, you can ask your currency specialist to take out a forward contract on the current forward rate. This will allow you to ‘lock it in’ for up to two years, so no matter when you need to make a transfer, you’ll always get it at your set forward rate.*

Affordable transfer fees

Sending money abroad through a local high-street bank could cost up to £30 for each transfer you make. If you're paying monthly for, let’s say a mortgage, that’s an additional £360 a year.

Once your move is complete, you still face the potential sting of high transfer fees each time you choose to send money home to friends and family. These costs can add up over the years, but working with a specialist can mean a growth in the savings.