Top 10 financial questions for would-be migrants

When considering living outside the UK, ask yourself the following questions, say migration finance experts Montfort International plc.
1. Should I sell or rent out my UK home?
2. Shares – Do I sell? Do I buy more and if so when?
3. Offshore Investment? Will it work for me?
4. Pension Funding - When do I stop contributing or when do I put more in?
5. Do I transfer my Pension Fund and if so, when and to what?
6. Sterling is extremely weak at present so can I control the foreign exchange rate I get on the money I transfer and if so how?
7. What happens if I don’t like my new land and decide to come back?
8. Should I have a UK Income Protection policy or a local one?
9. UK State Pension? What do I do?
10. Life Policies. Should I cancel them before I go – what do I do?
Whatever your financial intentions, seeking guidance early from the qualified advisers at Montfort International (freephone 0800 018 3571) before you finalise your migration plans can help you to a more comfortable life abroad.

Currency expert says "Pound could strengthen in coming months"

It is likely the pound will perform increasingly well against other currencies in the coming months, according to Marc Cogliatti, a currency strategist at exchange specialist HiFX, reported by expatriatehealthcare.com on 20 August 2009.

Mr Cogliatti explained that his opinion that the pound should "appreciate against the vast majority of its counterparts" is based on the UK being well prepared for the end of recession.

This would have a hugely beneficial impact on those planning to migrate and to British expatriates who have kept their funds in sterling, as the same number of pounds would buy more of the currency of their destination state.

Geraint Davies, MD of migration experts Montfort International plc warned that anyone emigrating should ensure they seek proper, professional advice before transferring their assets abroad to avoid adverse tax as well as foreign exchange rate implications.

Financial Pitfalls in migrating to Oz

Yesterday sterling hit a 10 year low against the Australian $ so it is now even more important that those considering migrating ‘Down-under’ should take expert advice, say migration finance experts Montfort International plc (http://www.miplc.co.uk/).
With Australian mortgage lenders variable rates at close to 9% and a faltering property market in the UK, your financial position should be top of the list.
A family converting £300,000 at the end of February 2008 might have in the region of $630,000 to get them established in Australia. Whereas someone who had planned ahead and arranged a forward contract (where you lock in today’s rate with a deposit of typically 10% and settle the balance at an agreed point in the future) as recently as August of last year, could be sitting on $768,000. How long would it take you to save that additional $138,000?
All very well with the benefit of hindsight, however a good financial adviser would have had you monitoring the exchange rate as soon as you had started your migration planning, ­­­­putting in place a strategy to help you capitalize when the exchange rate is favorable. In the current climate you need to be thinking about whether you should convert your capital into Australian dollars; after all, the situation could get worse before it gets better. Should you hedge your bets and exchange some of your funds now? What are the tax implications if you don’t convert prior to departure? How to get the best returns on your money whilst you wait for the situation to improve?
Whatever your financial intentions, seeking guidance early from the qualified advisers at Montfort International (info@miplc.co.uk or freephone 0800 018 3571) before you finalise your migration plans can help you to a more comfortable retirement ‘Down-under’.