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Found 20 results

  1. Guest

    UK facing a credit crunch

    http://www.garp.org/risk-news-and-resources/risk-headlines/story.aspx?newsid=38690 Long story short, higher cost of borrowing leading to higher costs throughout. But as the article notes, the government is taking steps by chipping in with its own contribution and is asking banks to slim up by cutting down on pays and dividends.
  2. Hi all I just posted this in another forum too but basically we need help in making a decision. Moving to Melbourne as unhappy in the UK after travelling and have itchy feet. We will be looking to start a family in the first few years there and am worried after looking at posts from people than it woul ruin us financially. OH is a Plumber so can earn 60-70 once he has his licence. I am in Public Relations and can get 50-70 depending on the role. So I imagine if we both get jobs at first we would be okay? But what happens when I have a baby? Can you manage on 60-70K? Not much point moving halfway round the world to struggle more is there? Is private health insurance really needed? Are there things not included with Medicare? We have to pay my OH's skills test fees ($2400) this week so want to try and make a decision before we do this. Help needed please xxx:arghh:
  3. Looking at the Moneycorp brochure - Commercial Foreign Exchange - , they state that RBS is a significant shareholder and their main bankers are: RBS HSBC & Barclays. They trade online in forex, CFDs, futures and commodities. I'm sure they are all similar. Are any of them safer than others? I know they only have your money for a short while (but these days- who knows what can happen?), but how safe is your money once they have got hold of it? Are any of them affiliated to US Banks - and would they tell us anyway? The Government is only guaranteeing £35,000 of your savings in any one Banking Group, so are these foreign exchanges included in that guarantee? I've got someone from Moneycorp phoning me later today. I will put these questions to him and let you know what he says. Right... he just phoned in the middle of this..... Basically, your money goes into a client trust fund and you are then under a "contract" with them, which would then mean your money will be protected by their Banker (in this case HSBC). This would then come under any Government guarantee protection currently in place. This is what I am going to do: Check that my Exchange Company is linked to one of the top four UK Banks only. I will only transfer £35,000 at any one time to ensure that it is guaranteed during transit by the Government. If I need to transfer any more, I will use another Exchange Company which is outside of the Banking Group of the first. (RBS / Nat West- same "Group" I believe...LloydsTSB / Cheltenham & Glos etc..) Do we have any financial whizzkids out there who can enlighten us further? Tracy
  4. Some more good news on the economic front for the UK. From: Hopes for economic recovery at highest since start of credit crunch - Times Online
  5. Hi there..Has the credit crunch hit Air con installers in Oz??? Since christmas I've had approx 2 months work (Birmingham) had all week off last week and a couple of days booked in here and there this week... Don't want to get to Oz and be in the same boat as over here !!:sad:
  6. Guest

    Credit Crunch

    Please can anyone help. Has all off us know back in the UK there is a credit crunch going on and probably going to get worse. What I want to know- is there one starting in Oz or are they just preparing themselves for when it does happen. I have a friend there and she is currently buying a house and thats hopefully what we will do in 6 months after arriving. But obv we dont want to go out there and have no jobs to go to. Its ok taking money out there but obv eventually it will all run out and we dont want to return to the UK. Please help im very worried now as this has been my dream returning to OZ. Thanks:sad::sad:
  7. Guest

    Getting to the crunch point

    We've just had a phone call tonight with an offer for our house. It has been on the market for a couple of months. We're still awaiting acknowledgement let alone the golden visa itself. We've never been the sort of people to gamble so blimey this is going to be one hell of a gamble. We keep telling ourselves there's no reason they wont give us a visa. Deep breathe, mad or what!:wacko::wacko::wacko:
  8. dont know if this should go in the job forum but anyhow here it is.....the credit crunch is here, (nsw), and people are losing their jobs left right and centre. i have a 'permanent' job but it looks like now i will become unemployed. it really is all doom and gloom here and going to work all everyone talks about is the loss of jobs etc. i work in heavy industry so its one of the first to be hit. i have been here 2 years coming up and if i were in the uk now i wouldnt come to oz...unless you have a job to come to or you are a professional person, i.e, doctor etc.for the rest of us, inc. tradesmen, its all going bottoms up, and it doesnt look like getting better soon. i know a lot depends on where you are going to live in oz or how much cash you have but believe me its effecting everyone, governments dont give money out for nothing. i could be out of work by march, my wife still has a job, for now, but if i could turn back time i wouldnt have come as we were set up in the uk. so i am seriously thinking of selling my 4 bed, 3 garage house and going back , at least i will be broke but with my family. i hate to be a bearer of bad tidings..but...dont come thinking oz isnt affected by the credit crunch....BECAUSE IT HAS BEEN!!!!!!!!!!!!
  9. :unsure:there isn't a day that goes by that I turn on the tv or radio and hear of this company or that company going bust leaving people out of work. I hear it and I see it but it all seems a million miles away. That was until yesterday. i bumped into a friend whom I haven't seen or spoken to in a while ( and am feeling like a pretty rubbish friend fo it) and the credit crunch hit home with a bang. She and her hubby have had/run their own business for over 20 years, last year they lost the lot, the business went bump, she is at present waiting for the bank to repo the house, they aren't intitled to and help/benefits the council wont even entertain them until they have been evicted, CAB, debtline etc can't help they are well and truely powerless. She has lost at least 2 stone weighing now about 7 st, is doped up to the eyeballs on antidepresents, sleeping pills and under the physc ward as she tried to kill herself over christmas. On one hand I feel so guilty, but lucky on the other, things are tight for us as I imagin they are for many others, we don't own our own home therefore fairly secure in knowing we have a home no matter what. She knows we are trying to go to Oz and I felt crap when she asked me about it. i wish I could do something to help her, but all I can do is be there for her now and hope it's enough.:sad:
  10. just wondering if other people are noticing that their jobs are quietening down due to the credit crunch? OH's office is the quietest its been since moving here and we were wondering if all the panic that the press are causing is affecting others in their jobs too?
  11. monkeymandness

    Been hit by the crunch

    Had a bit of a shock today....we've just had our house valued, to give us an idea of what we will have when we make the big move. What a shock! We bought our lovely home nearly 2 years ago. It needed a lot of tlc to bring it up to date. We have had such a busy couple of years, with the birth of our wonderfull second son, and lots of decorating and renovating. We have knocked down walls, put in a new kitchen, new bathroom, stripped wallpaper, stripped beautiful old doors back to wood, painted etc etc. We have done nearly every room, and we think it looks fantastic and everyone tells us how wonderfull it looks. We have spent in excess of £20,000 doing this, we have literally put everything we have into our home. Hubby lost his job last Jan and ended up having to commute from our home in Devon to Bristol daily for his new job. It was this change in circumstances that led us down the emmigration route. We had been thinking about this for years, but were afraid to leave the security that Matts job afforded us. With that gone, we felt that it was now or never... Anyhow 2 estate agents have valued our property, one saying we should get back what we paid for it and the other saying we would take a £20-£30,000 hit.....We are so gutted. We feel so much like we want to just leave this country and get on with the rest of our lives, but I feel like I just can't have done all that for nothing, that I can't walk away from our home having lost so much money on it. I just can not believe how badly this country has already been hit by the credit crunch. Shockingly, both agents said they had heard predictions that house prices could drop another 30% this year!!! My head is just spinning. Part of us feels like cutting our losses and getting what we can now. But another part of me feels that we sould wait this out..........I'm sure loads of you are facing similar dilemas to us on this and I would be interested to hear your thoughts.......:arghh:
  12. We are due to move out to Townsville in May and was just wondering if the credit crunch has hit Townsville in a big way,ie jobs, house buying/renting and general cost of living.We will be coming out with a lot less due to not being able to sell the house and having to rent instead. cheers Jackie.
  13. Guest

    Credit Crunch / Recession

    Hi Guys Just wondering if anyone in Oz can let us know if the Credit crunch / Recession is happening in Oz ( Brisbane inparticular ) ? Are house prices falling ? Is Bricklaying/Trade work drying up ? Intrest rates coming down ? Any help would be great x:wink:
  14. Hi Everyone I have asked the above question due to being told today by the Agency to whom I have applied for a job, have been told by the company that everything has been suspended due to the current climate:sad: For those who don't know my situation I will briefly let you know. In October I applied for a job on a website for a company wanting 20 Industrial Painters in Perth, with the condition of they had to be willing to emigrate. (No Time Wasters wanted) . I applied and received an email asking about my experience and why I wanted to go and if the family were happy to go. CV and application accepted. Email received stating that all applicants had been passed by Immigration and were being passed to the HR Manager of the company. Heard nothing for a few weeks. Emailed the agency and response was they had not heard from the Company. That was 3 weeks ago. Called the Agency tonight and was told that everything was on hold until January due to the current climate. Although I am disappointed it is not a complete knock back as yet. Or by the way I am just 45 so other Visa's are not an option except 475 of course. Just wondered about all you Poms already in OZ, "is the effect of the Credit Crunch hitting the man on the street in Australia and if it is in what way?" I would be interseted to know.:yes: Cheeers Stevied
  15. Guest

    Credit Crunch Down Under

    Hi everyone, I have a bit of a dilemma here... I've got a job offer from a large company and I've got my 457 visa application approved so I would normally be ready to get on a plane and get to Oz ASAP. However, my job is as a Mortgage Broker and my new employers have gone rather quiet when I send them e-mails, etc. BTW, I should be based in NSW... How bad is the economy over there at the moment? Is it crashing through the floor like here in the UK? Can anyone offer a comparison? Basically,life as a broker here in the UK is not much fun at the moment but I'm worried that, even if my new employers honour their job offer, I'll be going from frying pan to fire by moving down to NSW... Any thoughts anyone? Cheers all, Bodders.
  16. The Australian Bernard Salt 25 Sep 2008 I AM in Washington DC at the moment releasing a study of the implications of what I call the looming demographic fault line. At the end of this decade baby boomers will exit the workforce at a faster rate than Gen Ys will enter it. This will lead to a skills shortage that will prompt wage inflation and lead governments to increase migration. Economic crunch time as boomers retire | The Australian
  17. The Bank of England has offered a glimmer of hope amid the gloom as it said the credit crunch was finally showing signs of easing. Governor Mervyn King said liquidity in the financial system had improved and confirmed that mortgage rates were beginning to come down as the logjam in wholesale money markets freed-up. But it is only those less risky borrowers with money put aside for deposits who were seeing the benefits of lower rates, he said. Nervous banks are still clamping down on more risky lending and borrowers with no or low deposits are continuing to find it costly to secure home loans, according to the Bank. Figures earlier this week from the Bank revealed that two-year fixed rate mortgages for those with a deposit of 25% of the property value had fallen in price for the first time since February. However, the Bank did not release data for the third month running for two-year fixed rate mortgages at 95% loan-to-value due to the lack of home loans on offer for those with lower deposits. Mr King said: "It's the riskier borrowers who are finding it more expensive. "The credit crunch hasn't had an enormous effect on those people who are saving to borrow." He poured cold water on speculation that the Bank was considering extending the emergency £50 billion special liquidity scheme, introduced this year to help banks. Reports had suggested that the Chancellor was poised to widen the scope of the scheme, which allows banks to swap mortgage-backed securities for Treasury bills. Currently it only allows banks to use securities on mortgages taken out before the start of the year as collateral, but the Chancellor is reportedly considering allowing it to include new mortgages. Mr King made it clear that the Bank did not want to prop up the mortgage market. "Funding is not something the central bank can supply," he said.
  18. Is anyone really worried about this? Every day I put the news on and its in all the headlines and frightening the life out of me and husband. We put our house on the market last week and getting very worried we'll be in for a long and rocky journey. Does anyone know if oz is experiencing the same problems? If we get less for our house (that's if we can even sell it) not going to be able to afford that house we want in oz, you know the 4 bed, pool, room for a pony! ha ha Are house prices stablising/dropping in oz. We are looking Brisbane, Mango Hill, Narangba, Redland Bay etc.
  19. Guest

    Credit/car/visa CRUNCH!!!!

    Hi All, General moaning is wots about to happen here!!! No work House fallen through AGAIN!! Bought cheap car £200 broke down! Any sign of visa? NO!!! But at least it's summer!.... Oh No!!!! Rain!!! Computer Crashed ! Borrowed an old clunker from a mate which is the size of a wardrobe!! But still positive?! :yes: This all happened in one week!!! :arghh: No more please!!!! Kev&Lisa
  20. Guest

    Almost Crunch time

    Hi everyone, I discovered this website weeks ago and Its a god send. I've bored my friends so much, its fab to come on here and have people going through simular or have been. I'll explain my situation. I met my aussie boyf in Sydney almost 3 years ago whilst I was doing my travelling, we spent an amazing 6 months there together, fell in love and I totally fell for the Sydney lifestlye, I couldn't believe how lucky I was! For me, Sydney really is the most amazing City in the world. Anyway, so we stayed strong and I came home, I missed him so much but it was only making us stronger and more aware of what we wanted. He got his visa and came to London to work, we eventually moved in together to comply with the De-facto visa. We've been living together almost a year next month, so naturally we'll apply to go back to Sydney. In the mean time, things haven't been so good between us. Basically, he hates life in London and it isn't for him, fair enough-it is hard and an unforgiving place. We've worked hard to keep the relationship going but with him being depressed at being here, its been so so hard. I know that once he gets back to syd with the sunshine and the life he has, it will be better but in turn I have to then get used to life without family. I have a couple of good friends there so I know I won't be alone, I'm also a sociable girl and will definately be keeping busy! But I wake up every single day and its the first thing that comes to my head, that I'm leaving here to start up there. And I know I will have such an amazing life there should I go for it, but I need motivation at the moment. My man can be shy and is bad at showing his feelings but I think he doesn't appreciate what I'm effectively giving up. I know it will be good but I just have to get to that better place with him. My friends are saying that I have to be 100% sure that I want this before I go, fair enough, I'd be saying the same but its hard when you know your man will get back to normal given time!My family are ok even though we are close, my mum knows that this is what I want therefore she's willing to let me go, my sister on the other hand cries down the phone and my heart breaks when she does. Its like I'm dying or something and people keep saying-better make the most of it! I just feel like running away from it all at the moment, so many decisions to make and we haven't even started the visa yet! We've been together 3 years in August and I love him whole heartedly. Can anyone offer any advice/in the same situation? Thanks for reading this. Have a great weekend.