France is one of the most popular destinations for UK buyers, and the buying process is well structured, but the currency is the part most people leave to chance. You agree a price in euros and pay it over two to three months, while your money sits in pounds, so the exchange rate decides how much the property really costs you in sterling. The way to keep control is to plan the currency at the start, budget for the full euro cost including the notaire's fees, and fix your rate with Medlock & Thames rather than converting at your bank on completion day. This guide covers the currency side; for the full framework, see our guide to buying property abroad.
How does the French buying process affect your currency planning?
The French timetable sets the rhythm of your payments. You begin by signing the preliminary contract, the compromis de vente, which is binding once the cooling-off period passes. You then pay a deposit of around ten per cent. French law gives the buyer a ten-day cooling-off period, the délai de rétractation, during which you can withdraw and recover your deposit in full. After that, a notaire, a neutral public officer, carries out the title checks and gathers the mandatory diagnostics, and completion at the notaire's office usually follows two to three months later, when the balance and fees must already be cleared in the notaire's client account. That gap between deposit and completion is the window in which the rate can move, so it is the period your currency plan needs to cover.
How much can the euro move before you complete?
More than enough to matter on a six-figure purchase. In May 2026 the pound traded at around 1.158 against the euro, according to European Central Bank reference rates, and a swing of several cents across a few months is normal. On a €350,000 home, the difference between roughly £302,200 at 1.158 and about £318,200 if the pound slipped to 1.10 is nearly £16,000, for a property whose euro price never changed. You are not trying to forecast the market; you are removing that uncertainty from a purchase you have already committed to. A forward contract, which fixes today's rate for a future settlement date, lets you sign the compromis knowing the sterling cost in advance. For the mechanics, see how a forward contract works.
What will a French purchase cost beyond the price?
France adds substantial costs on top of the agreed price, and they are all payable in euros, so your currency plan should cover the full amount. The largest is the notaire's fees, often described loosely as notaire fees but mostly made up of taxes and duties collected on the state's behalf. On a resale property these run to around seven to eight per cent of the price; on a new build they are lower, typically two to three per cent. Estate agency fees may also apply, depending on how the sale is structured. As a rule of thumb, budget around ten to fifteen per cent over the price for a resale. Because every one of these is a euro cost, a weaker pound raises them too, which is a further reason to fix your rate across the whole budget rather than the deposit alone.
Which currency tool should you use?
For a property purchase you have three practical choices. A spot transfer converts at the rate on the day, which is fine for small sums but leaves a large completion payment exposed. A forward contract fixes today's rate for a future date, so you can sign the compromis knowing the sterling cost, and for most buyers it is the right tool for the deposit and the balance. A regular payment plan handles ongoing euro costs, such as local taxes or a French mortgage, once you own the property. A forward for the purchase and a regular plan for the running costs is the combination most buyers find works.
When should you fix your euro rate?
As soon as you are committed, which in France usually means at the compromis de vente when the deposit falls due. In our experience, UK buyers focus on the property and the price and only think about the exchange rate once the notaire sets a completion date, by which point there is little room to plan. Fixing the rate at the compromis stage means the figure you budgeted is the figure you pay. If you are still searching, open an account with a currency specialist in advance so you can act within hours when your offer is accepted. The groundwork takes a few days and costs nothing.
How do you move the money to France safely?
The purchase funds usually go to the notaire's client account, and they must clear before completion can proceed, so timing matters. A currency specialist can deliver euros to the notaire on the date required, in the right amount, which avoids the delays and weak rates that come with sending a large sum through a high street bank at short notice. For a transfer of this size, speak to Medlock & Thames before you send anything.
Frequently asked questions
When is the deposit due in France?
At the compromis de vente, usually around ten per cent of the price, after which a ten-day cooling-off period applies. That is typically the right moment to fix your rate for the balance due at completion.
Do I have to be in France to complete?
Not necessarily. Buyers can give a power of attorney so the notaire or a nominated person signs on their behalf, which many UK buyers do. A currency specialist can send the funds to the notaire whether or not you are present.
Will I be taxed on a currency gain?
Possibly, depending on your circumstances, as currency can interact with UK and French tax rules. Take advice from a qualified tax adviser; this guide covers the currency and transfer side only.
How long does completion take in France?
Usually two to three months from the compromis de vente to the final signing at the notaire, though it varies by property. That gap is the window your currency plan needs to cover.
Related articles
This guide is part of our overseas property series. For the full framework, read Buying Property Abroad: A Currency Guide for UK Buyers. See also our guides to how a forward contract works, what it costs to transfer money abroad, and our country guides for Spain, Portugal, Greece and Hungary.
