Re: How things change in 1 year !
 

Good post this. This has been our 5 year plan and it look like the wheels may have come off, just 3 months ago we were mindset sell the house end of the year with looking to move next June ish. But with the exchange rate and the bleak opportunities within my trade, things have taken a different turn. I never thought I would say it but we are going to move back north and see how things pan out in Oz. Think my mum and dad will be happy though, not told them yet though. Just a pointer last time I was in Oz it was 296 to the pound:thumbdown:

Re: How things change in 1 year !
 

Its not all bad though, for those of us thinking of returning to the UK after a few years in aus the exchange rate is actually pretty good right now !:rofl:

Re: How things change in 1 year !
 

We had hoped to sell in the UK, but since we'd already bought in Australia more than two years ago, it's not a priority. We'll now be renting out our UK house and moving into our Aussie one.

:)

Re: How things change in 1 year !
 

Just 5 months later:

360k from a 1.8 exchange and 500k median house price now has become....
340k from a 1.7 exchange and 540k median.

For those selling in the UK, exchanging the proceeds, buying in AUS, this is a swing from +80k to -200k in just under 1.5 years.
What a different playing field for those following that path now !

That gap keeps widening !
http://www.news.com.au/money/propert...-1225835436896

Re: How things change in 1 year !
 

Moral of the story: if you can't move to a country without the help of a wildly imbalanced exchange rate, you probably can't afford to do it at all.

Re: How things change in 1 year !
 

Lifestyle :lol: we must remember nobody was doing this for the financial gain.

Beaches and endless sunshine all still free, well actually its peeing down for about the third week, however I prefer that, suns too dangerous here anyway:eek:

I look back at when we came out, never gave the exchange rate much thought :eek: jumped on the roulette wheel and it worked out fine. Seems crazy when you read how many threads now get dedicated to every cent it moves.

Re: How things change in 1 year !
 

Maybe we're concerned about the exchange rate because probably none of us are doing this in our 20's. Most of you have houses, families - all stuff you've spent years building up and coming over now the current issues will set you back a few years.

I feel like we've gone back to when we first got married now - I know it's a bit different for us starting a business from scratch which hasn't been easy but I never quite expected 1.80 to the pound (and we were lucky....) and a bigger mortgage! I had hoped for a little bit of an easier time as when we first started putting the wheels in motion the average was 2.20-2.40 and we could have got a decent place for 350k now you're looking at the current rate and houses around 100k more and that's just in 3 years!

Yes, we not just here for financial gain and getting more $ for our pounds for us it was mainly a lifestyle choice but the problem now is we are going to have to work twice as hard and then not get to see anything of this wonderful country we came to! We had visions of nipping off here and there on a quiet week but now we just can't afford to!

Unfortunately it's all stuff out of our control so we have to make the best of it!

Re: How things change in 1 year !
 

There's some truth in this Vash :(

We have decided to save up enough money for our start up costs in Australia.
It will mean very hard saving and no luxuries for 18 months.

We will let our house here and rent in Australia. I'd prefer to do this rather than see our equity frittered away on flights, rent etc.

I think it's the only way at the moment.

Re: How things change in 1 year !
 

Your plans sound identical to ours. :)
I also am keeping it in mind that we can rent our uk home for 6 years so hopefully in that time the £ and UK housing market will recover, but even if it is much the same at least we'll have made a further 6 years mortgage payments.
Hopefully we'll be settled and a bit more financially secure in Oz by then and the UK equity can be used constructively in Oz. ;)

Re: How things change in 1 year !
 

We're hedging our bets too. if we don't like it in Australia we will be able to come back without it causing us too much financial pain.

Now is not the time to be making rash financial decisions :fingerscrossed:

Re: How things change in 1 year !
 

We are moving over in October and will be coming with literally the shirts on our backs as Our house sale will just cover our debts. Is this a better position to be in? We are staying with relatives for some months before renting. So we will be starting from scratch.

Re: How things change in 1 year !
 

I guess if you've got nothing then you've nothing to lose; its a positive position to be in :)

Kari

Re: How things change in 1 year !
 

3.5% with instant access!

Would you mind sharing where that can be had?

Re: How things change in 1 year !
 

Instant Access @ 3.5% ? Here's one :
http://www.alliance-leicester.co.uk/...xible-isa.aspx

ref http://www.moneysavingexpert.com/savings/best-cash-isa

Re: How things change in 1 year !
 

Thanks DownUnderPaddy. I knew there had to be a catch, and it's the fact it's an ISA with interest paid yearly. I'm hoping not to be in the UK in a year, and still hopeful for a post election. reversal of the exchange rate, so that money can be transferred to Australia.
Anyone know of any accounts paying reasonable interest on a monthly basis with no penalty access?