LONDON, Nov. 14, 2019 /PRNewswire/ -- Interest from overseas buyers for property in London is increasing and is driven by the weakness in Sterling outweighing the impact of Brexit uncertainty. 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."
Notes for editors
Established in 2018 by a group of foreign exchange experts (profiles below), Privalgo is a London based fintech company, specialising in FX. Privalgo combines client relationships and innovation with state-of-the-art financial technology, great service and a commitment to transparency that includes no hidden fees or charges.
In its first year of trading Privalgo has expanded to a team of 26 personnel and has transacted in excess of £400m for its corporate and private clients.
Privalgo has also created a strategy for referral partners with a view to developing a mutually beneficial network and community. The collaboration between Privalgo and Alexander Hall is amongst the first of these alliances.
Privalgo management team
Stewart has 25-plus years experience with a wide and varied portfolio of businesses, including financial sector roles.
A frequent foreign exchange market commentator on CNN and CNBC, Zeb brings 12 years of expertise with commercial teams and client-facing technology.
Daniel has 10-plus years of experience in financial services sector in top-level positions, with a focus on staff-client relationships.
Richard has 20 years experience and hands-on knowledge of FinTech and tech development.
Hayden has 30 years experience as a business director and innovative creative in branding.
Working in deliverable foreign exchange and business development for 20 years, Matthew has extensive experience in leading and mentoring staff to successful careers.
For more information please contact Hayden Lazarus.
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