Irish Savings Account

Yoda83

Hi all,

I was wondering if anyone could help me. I am Irish but have married and settled in the UK. My wife and I are looking to hopefully get onto the housing ladder in the next few months but are unsure of what steps to take next with our savings.

We have been working in the UK for a few years and have been saving for a deposit, but I also have two old Euro savings accounts back in Ireland which I would like to use to contribute towards our deposit. I was wondering if anyone knows the steps required to do this and if there are any associated fees?

Thank you in advance

eskbanker

There will be costs when converting between currencies but these can typically be minimised by using specialist brokers rather than banks, see https://www.moneysavingexpert.com/banking/foreign-currency-exchange/ for further details.

Are you both using Help To Buy ISAs to boost qualifying savings with a 25% government bonus?

colsten

Is the money in Ireland restricted for use with a property purchase, or are you simply asking how to get the money from Ireland to the UK? If the latter, look at a Transferwise Borderless account.

Yoda83

Thank you both, that's really helpful

Yes, we both set up Help to Buy ISAs a couple of years ago so that should help too. Colsten, to answer your question the money is not restricted for use in property purchase specifically so I will also look into the Transferwise Borderless account.

Thanks again!