HIFX plc

Mar 17 2007, 12:12 AM

Over the last few months, the Australian dollar has been pretty stable trading between GBP v AU$ 2.45 and 2.55 since August 2006, however GBP v AU$ has now fallen below 2.45. This stability was because of robust commodity prices (oil and gold) and a cycle of tightening monetary policy by the Reserve Bank of Australia, who have raised interest rates eight times to 6.25% since 2001.

This attracted many overseas investors to swap low yielding currencies to take the benefit of higher yielding currencies i.e. exchanging Japanese yen for Australian dollars and benefiting from a much higher interest rate in Australia.

The latest inflation figures from Australia suggest that the increase in interest rates have had the desired effect on inflation, with CPI falling to 0.1% in quarter 4 of 2006.

As there are so many factors that affect the currency markets, it is imperative that migrants begin to plan for their migration as soon as possible because ultimately the exchange rate they achieve will have the biggest impact on their future wealth and purchasing power when it comes to buying a house.

Protecting yourself from currency movements, even before you have sold your property is straightforward with HIFX, the migration currency specialists, with a “forward contract”. A forward contract involves putting down a 10% deposit to secure a rate of exchange until you need the currency when you can pay the balance of 90%. This way of buying currency is flexible and can accommodate changes in the time scale originally agreed – due to house sales falling through for example.

If you have more funds then you anticipated because of an increase in your house price during the forward contract, you can transfer these on a “spot contract”. Essentially, this means that you “buy now, pay now”, but because it is likely to be a smaller amount than the forward contract there is less risk associated with it.

Being able to make the right decision based on your individual circumstances is something that the migration team at HIFX has a huge experience of. Your dedicated dealer will be able to implement a tailored strategy, free of charge, to help you manage your requirements in the most effective way possible.

You can contact the Migration team on 01753 859 169 or email: migration@hifx.co.uk. Alternatively, visit the website: www.hifx.co.uk/migration

*Paul*

Apr 27 2007, 07:51 AM

I cant see as this would be a problem. We've used them (almost annually) with my job.

Email Stewart McKinna: stewart.mckinna@hifx.com.au as you are generally requested by HIFX to contact the Australian office when in Australia. He will be able to tell you what the situation is. Say hi from me.

Paul

Koala Konnection

Apr 28 2007, 10:34 AM

I love the vocab. Mithered is a word I've not heard in a long time. I'm what you might call a posh git because I have no accent - or sound like royalty according to the local aussies.

I was born in Kent, lived much of my younger days in Norfolk, spent uni days in Brighton and then the last part of UK life near Chester, Warrington, on the Wirral, Ellesmere Port and in North Wales.

So it's quite nice (said in the poshest way) to hear these things.

P.

*Paul*

Apr 29 2007, 09:58 AM

Moderately dear.

Has Stewart got back to you?

Paul.

airconkid

Apr 30 2007, 03:21 AM

Cath,
I'm not too sure (98%) but I think your innitial money transfer to Oz. from UK, is GST free. After that, you pay GST..................(Don't quote me on that!!!!)

Aircon

cathnpaul

Apr 29 2007, 08:12 AM

*Paul*

Apr 29 2007, 09:58 AM

Moderately dear.

Has Stewart got back to you?

Paul.

Yep, we been chatting away - he said we should go for a meal with you and gill in montville where he went with you...he said you are a lovely couple.

He had asked someone to email me the papers to get the oz end of hifx opened, but we didnt recieve it. So have sent him another message to advise.

He has answered tons of questions off me and seems a good guy to know. It all went quiet when I asked him if there were any jobs within HIFX which involves debt recovery... haha. He was working late I think so probably went home. I hope I havent scared him off by asking about a job. But cheek sometimes gets you a foot in the door.

*Paul*

Apr 30 2007, 09:48 AM

cathnpaul

Apr 29 2007, 08:12 AM

*Paul*

Apr 29 2007, 09:58 AM

Moderately dear.

Has Stewart got back to you?

Paul.

Yep, we been chatting away - he said we should go for a meal with you and gill in montville where he went with you...he said you are a lovely couple.

He had asked someone to email me the papers to get the oz end of hifx opened, but we didnt recieve it. So have sent him another message to advise.

He has answered tons of questions off me and seems a good guy to know. It all went quiet when I asked him if there were any jobs within HIFX which involves debt recovery... haha. He was working late I think so probably went home. I hope I havent scared him off by asking about a job. But cheek sometimes gets you a foot in the door.

Yes - we had lunch at a British Pub! He had a seminar - actually, I think he was a speaker - at a conference in Noosa for a couple of days and so we met up for a couple of hours.

GST - Goods and Services Tax - currently 10% - Aus speak for VAT.

Paul.

airconkid

Apr 30 2007, 09:19 PM

Cath, *Paul* beat me on the GST question............

Or

Gold coast,Sunshine coastT'riffic

*Paul*

May 2 2007, 02:03 AM

airconkid

Apr 30 2007, 09:19 PM

Cath, *Paul* beat me on the GST question............

Or

Gold coast,Sunshine coastT'riffic

Someone has far too much free time on their hands... :rolleyes:

Not so much now, that the ball is rolling.

Now counting down 'days' instead of 'weeks'..............!!!!!

Aircon

airconkid

May 2 2007, 06:38 PM

*Paul*

May 2 2007, 02:03 AM

airconkid

Apr 30 2007, 09:19 PM

Cath, *Paul* beat me on the GST question............

Or

Gold coast,Sunshine coastT'riffic

Someone has far too much free time on their hands... :rolleyes:

Not so much now, that the ball is rolling.

Now counting down 'days' instead of 'weeks'..............!!!!!

Aircon

cathnpaul

May 23 2007, 02:01 AM

airconkid

May 2 2007, 06:38 PM

*Paul*

May 2 2007, 02:03 AM

airconkid

Apr 30 2007, 09:19 PM

Cath, *Paul* beat me on the GST question............

Or

Gold coast,Sunshine coastT'riffic

Someone has far too much free time on their hands... :rolleyes:

Not so much now, that the ball is rolling.

Now counting down 'days' instead of 'weeks'..............!!!!!

Aircon

ozforex is advising the xchange for today:

We expect a range today in the GBP/AUD rate of 2.4065 to 2.4165

fingers crossed it continues to creep up in the right direction x

*Paul*

May 25 2007, 05:14 AM

Damn! I was hoping for another box within a box within a box within....