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Sold up and working abroard. Where's best for my savings?
Tony_R_4
Posts: 1 Newbie
Hi All
I've just sold my house as I am about to start working in Australia. I am not sure yet whether this will be a temporary or permanent move.
Once there I intend to rent in my new location at first as I would also like to settle in and find which area/s I prefer.
There have also been major increases in house prices there recently and the interest rate is high. I feel that the market has peaked and the £ to AUD$ is also quite low.
At the moment I feel that it is not worth buying.
My question is where would you recommend I best invest the proceeds from my house sale?
At the moment I have split the money between several high interest accounts, an easy access account with no penalties for the unexpected and a bank account in Australia.
I am also thinking about shifting the lot over to OZ despite the lower exchange rate as the savings rate is significantly higher.
Any extra advice would be appreciated.
Cheers
Tone
I've just sold my house as I am about to start working in Australia. I am not sure yet whether this will be a temporary or permanent move.
Once there I intend to rent in my new location at first as I would also like to settle in and find which area/s I prefer.
There have also been major increases in house prices there recently and the interest rate is high. I feel that the market has peaked and the £ to AUD$ is also quite low.
At the moment I feel that it is not worth buying.
My question is where would you recommend I best invest the proceeds from my house sale?
At the moment I have split the money between several high interest accounts, an easy access account with no penalties for the unexpected and a bank account in Australia.
I am also thinking about shifting the lot over to OZ despite the lower exchange rate as the savings rate is significantly higher.
Any extra advice would be appreciated.
Cheers
Tone
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