Loans

Loans

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Advice on paying all of my UK debts whilst living abroad

Hi there,

I am relocating to Hong Kong with my job at the end of March. I’m trying to find some advice on how to service my debts in the UK from Hong Kong.

I have a personal loan and a credit card that still needs servicing until the balance is repaid.

I have opened up a HSBC account in the UK. HSBC have advised me that they can open an account for me in HK and I’ll still be able keep my UK account.

So my thoughts were to keep all of my UK debt running in my UK account and transfer between my HK and UK account for the funds to pay the debts etc.

Is this the Best way to do it, as I’m conscious that the banks will charge me a exchange rate for each transfer.

Any advice would be great, thank you.
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