elbow271 Posted February 25, 2018 Share Posted February 25, 2018 Hi guys I am currently looking to apply for my Partner visa - the plan is to eventually buy property in Oz - i have over £100K in ISA funds in the UK - This will ne a deposit - what is the cheapest method of bringing this money Into Oz for my down payment - I have been told to transfer into my existing Uk account and then transfer using Ozforex for a minimal fee. I dont know whether there would be any tax implications so any advice would be greatly appreciated Link to comment Share on other sites More sharing options...
DeeTowers Posted February 25, 2018 Share Posted February 25, 2018 We transferred a hefty some from the sale of our UK home using TorFX - Great service, super quick. There was no tax implications for us as it was our only home that we had lived in and owned for 15+ years - We got a good rate (prior to Brexit!). The money went straight into our TorFX account after settlement, It sat there for a few days while we watched the rate go higher and then authorised the transfer to our AU account. We have since purchased a house in Sydney. Good Luck! Link to comment Share on other sites More sharing options...
rammygirl Posted February 26, 2018 Share Posted February 26, 2018 If these are cash isa deposits then no issue with tax. But do use a specialist transfer company and shop around for the best deal. Link to comment Share on other sites More sharing options...
elbow271 Posted February 26, 2018 Author Share Posted February 26, 2018 DeeTowers & rammygirl - Your advice is much appreciated and noted. Praying for a surge in the £!! Link to comment Share on other sites More sharing options...
RobC269 Posted February 28, 2018 Share Posted February 28, 2018 I use TransferWise to transfer money between UK and Aus. Their fee at the moment is 0.5% plus $1, so about £500 for you, and they use the midmarket exchange rate (the rate on Google, basically). The largest sum I've transferred was to buy a car though, not a house. There are other providers which are cheaper, but I've had a good experience with TW so far. Link to comment Share on other sites More sharing options...
elbow271 Posted March 14, 2018 Author Share Posted March 14, 2018 On 28/02/2018 at 10:26, RobC269 said: I use TransferWise to transfer money between UK and Aus. Their fee at the moment is 0.5% plus $1, so about £500 for you, and they use the midmarket exchange rate (the rate on Google, basically). The largest sum I've transferred was to buy a car though, not a house. There are other providers which are cheaper, but I've had a good experience with TW so far. Big thanks RobC269 - much appreciated Link to comment Share on other sites More sharing options...
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