Why does currency matter when buying in France?
Quick answer: French property is priced in euros. If your money sits in pounds or dollars, you have to convert a large sum at one moment. On a seven-figure purchase, the gap between a good rate and a poor one often runs to tens of thousands of euros. Treat currency as a cost line in its own right.
Two things set the cost: the exchange rate on the day, and the spread (the margin added to the mid-market rate). Both grow with the size of the sum. Say you move £1.3M for a €1.5M villa. A rate half a per cent worse costs you around £6,500, and some planning avoids most of it. You also make two transfers: the deposit at the compromis, then the balance plus fees at completion, often months apart and at different rates. Currency sits next to notaire fees and the yearly taxes in the full cost of buying.
General guidance, not financial advice
This page explains how currency transfers work for property buyers. It is not financial or investment advice, and nobody predicts exchange rates reliably. Use a regulated provider, and take professional advice for large transfers. Verified 29 June 2026.
Bank or currency specialist: which is cheaper?
On a large property transfer, a currency specialist or fintech nearly always beats a high-street bank. Banks usually add a wider spread and fixed fees. Specialists quote tighter rates and drop transfer fees, which often saves 1–3% of the sum on a big conversion.
As an illustration, on a €1.5M purchase a 2% difference in the effective rate comes to about £26,000. A regulated FX specialist, the kind property buyers use routinely, generally gives you a tighter spread, no fee per transfer, a named dealer for large sums, and tools such as rate alerts and forwards (see below). Banks are convenient, but they are rarely competitive on six- and seven-figure conversions. Compare the all-in rate rather than the headline one, and check that the provider is regulated where you live.
Does a forward contract lock my exchange rate?
Yes. A forward contract fixes today’s rate for a transfer up to 12 months ahead (the usual limit), in most cases against a small deposit. If the euro strengthens between the compromis and completion, you are covered. An uncertain cost becomes a known one.
For property buyers this is the most useful tool of all. The gap between signing and completion runs two to three months, sometimes longer for off-plan, and that is when the rate tends to move against you. With a forward, you fix the villa price in pounds or dollars now and pay the balance later at the locked rate. The trade-off: you give up any favourable move, and the provider holds a deposit. On a purchase of this size, most buyers prefer a known figure to a bet on the market.
How should I plan the transfers in practice?
Open a regulated FX account early. Budget for two transfers (deposit, then balance plus fees). Once your offer is accepted, decide whether to lock the rate with a forward. Send the funds to the notaire’s account well before completion, because late euros hold up the signing.
A sequence that works: (1) open and verify the FX account before you make an offer, so you are ready to move fast. (2) When the offer is accepted, decide whether to fix the rate with a forward for the full euro amount, including the ~7% notaire fees (see our notaire fees guide). (3) Send the deposit for the compromis. (4) Transfer the balance to the notaire several working days before completion. If you are also borrowing, coordinate with the lender (see our non-resident mortgage guide), since you only need to convert your equity and the fees. The transfers follow the hinterland buying process, from compromis to acte. If you are still at the search stage, see homes we present privately while the account is set up.
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