Hi Nick,

I'm assuming you just want to set up a trading account to convert GBP to EUR and transfer these funds to your solicitor's account when the stage payments are due.

If this is the case, I recommend setting up an account with a forex company like ukforex. com. You can fill in the application online and you need to provide a copy of your passport and proof of address. Once your account is opened you can set up your beneficiary's account details (ie. your solicitor's account).

A company like UKForex offers live quotes on screen and you can check exactly how much GBP you will be paying (including commission) for the EUR you wish to buy. You can either book a deal live when you are required to transfer the EUR or if you think the currency pair of GBP/EUR is going to flucuate quite a bit you can set a limit order (ie. you set now what exchange rate you are willing to buy EUR at - when/if the exchange rate hits this mark then the deal will be booked and you will be required to pay the GBP). The only problem with this is you might have to pay GBP a lot earlier than expected and will lose use of these funds, but you will lock in a good rate and I'm sure your solicitor won't mind receiving the EUR early.

Once the deal is booked you have two business days to pay the company the GBP (this can be flexible as transferring funds can take longer than 2 days in the UK). Once they receive the GBP they automatically pay the EUR to your beneficiary.

The rates offered beat the High St banks and you also get the opportunity to monitor the rates on screen and book your deal live when the exchange rates are at your advantage.

Hope this helps. If you need any further info let me know.