UK / Australia share account query

learning_every_day

I’m looking to open a share dealing account but have a fewquestions concerning my location and requirements.

I’m British, lived in the UK for 25 years from birth, andmoved to Australia temporarily a year ago with a plan to stay in Australia fora further 2 years and then return to the UK.

Until now I have been transferring money earned in Australiaback to my UK savings accounts using a broker but would like to start buyingsome shares. I want to do this in GBP preferably UK based and not AUD.

Being in Australia there only seem to be a few UK basedexecution companies (I’m struggling to find them now but spotted them on a comparisonbefore) that will offer an account to me whilst I am living overseas. (FirstDirect made me close my account before I moved.)

Can anybody recommend a company that would cater for mysituation?

I have spoken to Saxo Capital Markets here in Australia whohave suggested I transfer AUD in to a Saxo trading account here, they can thenconvert the money to GBP close to the spot rate with a $10 charge and I cantrade in a GBP account. If I want the GBP deposited in to a UK account theywill do this free of charge. Apparently.

Has anyone done this before or does anyone have anysuggestions, recommendations or warnings regarding my situation?

I’m a little uncomfortable about potential problems whenmanaging this account years down the line and don’t want to be selling shares(if appropriate) only to be met with any issues regarding the depositing of GBP into my UK account.

Should I just play it safe and go for a UK based account oris the Saxo offer a common arrangement?

Many thanks