Like many Brits looking to escape, Michael Gregory and his family wanted a better lifestyle. “I emigrated with my wife Lesley and two children last year – we’d spent a while thinking about moving to Perth. We were looking to improve our lifestyle and the lifestyle of the children. We’re a sport mad family and there’s plenty here.”
The weather was also a big attraction. “Climate was, without doubt, a major factor. The weather’s fantastic here and on Sundays all the families come down to watch the kids play soccer, and have picnics. There’s a real community feeling.” Michael explains why Perth was perfect for them. “We made the decision to come and have a holiday in Perth and took three weeks one August, which is considered winter in Australia.
We had weather far better than the English August – and we loved it! ”
With their hearts set on Perth, Michael and Lesley then had to go about finding a job. As Michael explained: “Visas were obtained through Lesley as a qualified pharmacist but I still needed to find work.I worked for a bank in the UK for 23 years and, before I resigned, I made the decision to come out with the family for another two weeks to look at job prospects and attend interviews.
“I came home with a couple of job offers to consider and I resigned the following week.” With Michael’s new job in the bag – and visas in tow – the Gregory's had their big move all planned out. Michael and Lesley could now concentrate on the other steps involved in emigrating – such as removals and bank accounts...
It was then that Michael thought about foreign exchange and
contacted Moneycorp. “I liked our dealer Derek from Moneycorp, who was head and shoulders above the competition.Derek really went the extra mile for us and I liked the guidance he gave me – so much so that I decided to act upon it. “Moneycorp helped me to realise the implications of timing your trade just right. People often talk
about equity in their homes, but they don’t often see it and have the opportunity to move it into another currency.
“When you’ve got a house that’s in excess of £300,000 and you start looking at exchange rates, you see that it does make quite a difference, in terms of how much foreign currency you end up with.”
There were other benefits of the better currency rate too, particularly when it came to buying their new family home. “The owner of the house was English, so I was able to take advantage of the strong Aussie dollar.
“When you’ve got a house that’s in excess of £300,000 and you start looking at exchange rates, you see that it does make quite a difference, in terms of how much foreign currency you end up with. We initially transferred about £200,000 – using a forward contract – and got almost $80,000 more with Moneycorp’s help.”
The extra cash really helped, says Michael. “With regards to the savings we made through foreign exchange, we didn’t really say ‘oh we’ve got an extra A$80,000,’ but we did have that ‘extra’ money in the pot. We’ve spent about A$150,000 (£75,000) on the new house in the last 11 months. Michael fully recommends that all emigrants consider foreign exchange well in advance... “Exchange rates just aren’t something that the ordinary person looks at. In terms of using a bank to make those transactions, well, I work for a bank today and I still use Moneycorp for my transactions –so what does that say?
“I’d recommend Moneycorp to anyone – I already have done on several occasions. You just can’t afford to leave foreign exchange to the last minute. “Emigration is an expensive process – you’ve got to put some real thought into any costs you can avoid, to help you hold on to what you’ve got.”
To talk to Moneycorp about how you can change your pounds into dollars, and for more information on forward contracts, please call 0800 587 5117 or visit www.moneycorp.com/emigration