Gail5

So, once you sold your house in the UK, where did you 'put' the equity, till you were ready to buy in NZ? We all want to get the best out of our money while waiting to invest it in another property but, what's the best way? Would appreciate any 'financial' advice

Gay x

Genesis

alas you have your equity when the kiwi$ is at an all time high. If you are decided upon changing it up now (no reason why not to as the kiwi $ apparently will not stop its increase in value) thus you may aswell get it over before more rot sets in and you will only get $1.70 for your pound. Stick to a AAA bank. Raboplus is one of the best. Go to www.raboplus.co.nz.

Or google 'best interest rates in NZ' you will see what is on offer. But be warned do not be tempted by higher interest in the non AAA graded banks..way too risky IMO. You should get around 4.75% for a 6-9 month acct and you will pay a tax of something like 25% MAYBE A WEE BIT HIGHER UNTIL YOU GET AN nz TAX NUMBER. Sorry cap locks came on. I like you am going to change a large amount of GBPs up as I alas have lost all confidence in the pound and am sick of my cash eroding at such a huge rate every day. Get it over here earning a decent return and put the past behind us.

hazeandsteve

Just bring it. buy what you can afford, and forget the idea of cashing in.

simonsi

Absolutely, it is what it is.

DavenHelen

Depends when you need it We managed to get 3 % in the UK and had it in account that we could quickly move out of when the rates improve.

Remember under the FSCS you are covered upto £85,000 per person per organisation if say the bank go bankrupt so may be wise to spread your money around.

But as some people have said there is a lot to be said for getting your money over here and getting on with your life rather than checking the rates daily/hourly!

Browner_

Far more important than maximising a minimal amount of interest, Id research how crap NZ houses are before you buy one. The potential pitfalls are there and you need to avoid them.

There have been quite a few threads on this topic on this website.