Case study

Peter King, from Basingstoke, recently invested in a luxurious four bedroom holiday villa in the Kalkan region of Turkey, to give him and his family a fantastic holiday home as well as capitalise on an overseas investment opportunity.

Peter bought the property in mid 2007 and has been enjoying regular holidays there since; as well as letting the property out to other holidaymakers through Holidaylettings.co.uk. Turkey is one of the top 10 most popular holiday searches on Holidaylettings.co.uk and Kalkan is particularly renowned for its tranquil setting.

Peter recently switched to Moneycorp and set up a Regular Payment Plan (RPP) to pay the property mortgage. In doing so he has saved thousands of pounds through better rates of exchange and lower transfer fees. The RPP is totally flexible and is perfect for people with overseas properties who want to save money when making regular payments.

Peter said to Moneycorp:

“I used to use my bank to transfer money to Turkey, but they had problems in getting Lira, and I would incur a charge for receiving money into my bank account. Moneycorp on the other hand were great – using them has been very straightforward, and much cheaper than using the bank.”

Tom Bannister, business development manager at Holidaylettings.co.uk comments: “Using the income he generates from rentals, Peter can mitigate the costs of owning his home in Turkey and, having switched his regular overseas payments to Moneycorp, he’s further increasing his rental yield by reducing his costs.”