chris and farideh

Hi Chaps,

I'm moving to Oz this year, but have to leave behind the endowments that I had on my UK home. These will mature in a few years. Will an Oz bank accept these as security for a mortgage?


Many thanks

Chris

Buzzy--Bee

Don't know Chris but bear in mind that you will probably have to pay tax in Australia on the difference in value of the endowments from the date when you arrive in Oz until the date when they mature and you transfer the money to Oz. This increase in value is counted as taxable income in Oz although new laws relating to taxation and temporary residency may exclude this if you are on a temporary visa.

I am probably going to sell my endowment before I go.

Cheers

Buzzy