Expats returning home need to think carefully about their financial affairs before they return to the UK. Financial difficulties when you get back can stem from a range of things, such as not having a credit history and no representation on the electoral roll to finding yourself charged a higher rate of interest on a mortgage.

However, if you plan ahead properly at least some of these can be mitigated.

If you've been away from the UK for some years it is important to re-establish your credit history, as without doing so you might find it difficult to obtain a mortgage in the UK. A good way is to consider establishing an offshore account with a bank which has a strong UK presence. Information can then be passed between the offshore subsidiary and its UK counterpart, and assist with the underwriting process of your mortgage application.

When people are posted abroad they tend to be preoccupied with the task of finding somewhere to live and adjusting to a new culture. Financial issues are often neglected.

Coming home in the middle of a tax year may mean extra administration and you should find out what the implications are for your pension, savings and any insurances that you have.

Remember too that there is a lot more to property than cost. Schools and other local services that may have been excellent in an area before you left could very easily have gone downhill.

It costs money to move back to Britain, and unless your company is paying for the move, you will need to budget for it. Doing this far enough in advance of your return means you have enough time to build up a fund.

Call and speak to a memeber of our team today about how we can help and guide you through the process.