5 Tips For A Smooth And Financially Secure UK Relocation

The UK has so much to offer for the expat looking to build a new life. Excellent schooling, bustling economies and good quality housing are just some of the reasons to move to Great Britain. And that’s not to mention the rolling green countryside, miles of beautiful coastline and the rich and varied melting pot of cultures.

Relocating can be expensive and stressful, but there are some things you can do to ease the transition and to ensure your big move doesn’t impact your finances too much.

Today, we’ve invited Aviva Tabachnik, head of partnerships at currency comparison website MyCurrencyTransfer.com to offer some top tips.

1. Try To Arrange The Big Things In One Visit

Accommodation, schools and employment are some of the largest things you will need to arrange before you move to the UK. Booking a stay of a week or longer will give you time to find suitable accommodation, look around schools and perhaps arrange interviews if you do not have a job lined up already.  It will be one of the busiest times of your life, but once these big things are ticked off of your list, it will be a huge relief. You will also save money booking a longer trip compared to lots of little trips to sort things out.

2.  Set Up Your UK Bank Accounts And Speak To A Money Transfer Broker

Setting up a UK bank account is essential for moving to the UK. This is a fairly easy process once you have the correct paperwork in place and there are many high street banks and great deals to choose from.

You will also no doubt be transferring money around quite frequently. Whether you need to transfer money back home or you are looking to make a large money transfer, getting a good deal on your currency payments is so important. The good news is that you can now transact with FCA regulated non-bank foreign exchange specialists. Typically, they can help you save 85% versus the rates offered by banks. The golden rule is to always benchmark the ‘real’ rate of exchange versus the ‘sell rate’ you are offered by a bank or currency broker. Using a reputable & reliable currency converter tool lets you check the true cost of your currency conversion. Using a reputable & reliable currency converter tool lets you check the true cost of your currency conversion.

3.  Compare Removal Costs To Make Great Savings

Moving to another country takes packing to a whole new level and it’s going to cost a whole lot more than moving locally. Whether you are moving a lot of furniture or simple boxed up personal items, you will need to find a removals company that specialises in overseas move. Thankfully, due to the increased numbers of expats these days, there are many companies online offering these services.

4.  Keep Track Of The Small Things

There are lots of big things to consider when moving – some of which we have mentioned above, but it’s the smaller less obvious things that can start to push up your costs. Keep track of expenses such as packing materials, repairs that may be required on your new home, getting the best currency deals and sundry items that are easy to miss.  Listing out all of moving expenses, no matter how small, will help you to budget.

5.  Double Check Salaries And Taxes To Avoid Nasty Shocks

If you have been lucky enough to land a new job already, well done!  Make sure you understand how much money you will be getting and work out how much you will be expected to pay in tax and also National Insurance. This will ensure there are no nasty shocks when you get your first wages slips.

Moving to the UK can be a fulfilling and exciting life experience and the more you can do to save yourself stress and major expenses, the smoother and more enjoyable your move will be.

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