| Random quote: Australia has had one of the most outstanding economies of the world in recent years. |
|
|
Member
Posts: 7
Location: Leicester, United Kingdom | Hello, I attended the seminar on Sunday and the guy from your company said something about fixing an exchange rate?? is this right and what happens if I fix a rate now before I migrate and then it goes up loads can I change it or cancel it or do I have to buy at that rate whatever?
sorry, bit new to all this it's alla bit confusing! | |
| | |
Finance Expert
Posts: 12
| Hi there,
Apologies for the dleay in getting back to you, but what my colleague was explaining was a "forward contract", or buy now, pay later option. This is where you can fix a rate with a 10% deposit, and pay the remainder up to 2 years down the line, giving you complete peace of mind knowing how many dollars you will get when you migrate from the outset.
It works like a fixed rate mortgage - whatever happens to the rate, you get the one you agreed on day one. Some people may take the view that it is a gamble as the rate could go up, but the question is would you be more annoyed that you bought now and the rate went up, or didnt buy now and the rate went down? What can you afford to lose? Have you done your sums on a particular rate?
You can elect to use what is known as a Market Order or target rate, which is where you give us a rate to achieve and if this is hit then we buy the currency for you. The risk here is that if the rate isn't achieved then we simply dont buy the money for you, and you are left to transfer you funds on the prevaling rate of the day you move.
If you would like to discuss your situaton and options in more detail, please feel free to contact the migration team on 01753 859159, quoting Thinking Australia when you call.
Hope this hellps,
Richard. | |
| | All communications contained in this message board are 'information only' and should not be regarded as 'advice'. Only your appointed agent can provide advice as these are the requirements of the Australian Migration Act. You are advised that action taken as a result of any information received that does not come from your appointed agent may jeopardise your migration application.
Jump to page : 1
Now viewing page 1 [25 messages per page] | |
|
Fixed rate
