Offer Made - Lock in good exchange rate?

[Rapscallion]

I have finally taken the plunge and made a couple of resale offers.

I have read a little about the process of paying the deposit and also funds on closing. My question is, in advance of closing is there a reliable method for converting £s to $s at today's exchange rates, ready for closing a few months down the line?

I would hate for the £ to tumble further down the line adversely affecting such a large sum of money. I have a revolut but understand many closing companies don't accept ACH(?). However that would have allowed me to convert when it's looking good and keep the US $ funds until it's time to close.

Any tried and tested techniques for this?

[YorkshireT]

Originally Posted by Rapscallion

I have finally taken the plunge and made a couple of resale offers.

I have read a little about the process of paying the deposit and also funds on closing. My question is, in advance of closing is there a reliable method for converting £s to $s at today's exchange rates, ready for closing a few months down the line?

I would hate for the £ to tumble further down the line adversely affecting such a large sum of money. I have a revolut but understand many closing companies don't accept ACH(?). However that would have allowed me to convert when it's looking good and keep the US $ funds until it's time to close.

Any tried and tested techniques for this?

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Use HiFX (Xe now) it seems to be the only one no one would have trouble with. I’ve done multiple contracts with it.

However, I wouldn’t personally change money and leave it in an account for any length of time, simply as it increases risk with any company.

The exchange rate is just as likely to get better than worse and is in any event unlikely to fluctuate by huge amounts. I would just use HiFX when the time comes and don’t overthink.