Expat Money Newsletter - July 2018

Welcome to the Expat Money Newsletter for July.

Expats face specific risk when living abroad. Many domestic policies have restrictions about the time you spend abroad that can invalidate the policies for expats. There are also issues such as leaving a home vacant at home and terrorism and kidnap risks that can be an issue if you live in some parts of the world.

The Expat Network Team

expats@expatnetwork.com

Expats’ Special Insurance Needs

Everyone faces risks that require reliable insurance coverage. Expats face the same risks as well as additional risks caused by their decision to live abroad. It is important to recognise the risks that you face and to be sure that the coverage does not have terms invalidating the insurance because of your location or because of the fact that you live abroad.

Falling Mortgage Interest Rates Favour Expat Buyers In The UK

Offshoreonline report that when expat house buyers return in the busy summer buying period they will have a significant negotiating edge due to the recent falls in expat mortgage interest rates and the effect of a weak housing market in the UK.

British Pensioners Face £10bn Being Wiped From Pension Pots

According to an analysis conducted by financial advisory consultancy, Hoxton Capital Management, the average pension pot of over-65 Britons living abroad has reached £210,000. In volatile years, they report, currency market fluctuations removed as much as 20% from British pensioners’ spending power. Based on the amount of British citizens aged 65 and over living in EU countries having reached 247,000 (ONS, 2017) – this 20% could represent a total of £10bn being wiped from British pension pots.

US Expats Resent Continuing US Tax Requirement

Greenback Expat Tax Services’ 2018 US Expat Opinion Survey, based on input from over 3,800 expats, highlights the unpopularity of the requirement for US expats to file US taxes while living abroad as well as concerns about their representation in the politics back at home.

Best Savings Rates In Expat Banking

The best current offering for sterling offshore savers (with notice period) is Skipton International’s 1.25%, if you have £10,000 and can give 200 days’ notice of withdrawals.

If you can leave your savings untouched for three years. Skipton International offer 1.9% annually over this period for a £10,000 minimum. You can beat this rate if you leave your savings untouched for five years, Conister Bank offer 2% annually for a minimum of £5,000.

For dollars, Barclays Wealth pays 0.85% for $10,000 or more, with no notice.

Your Free Guide To Living In France

France is one of the most popular destinations for both tourists and expats. France is the fifth largest economy in the world. Over 150,000 Britons and over 100,000 Americans live there. The Expat Network guide is available whether you are working in Paris or one of the other major cities in France, looking to retire to France to enjoy the lifestyle, scenery and climate or simply moving as a digital nomad to work in a different environment.

Don’t Miss Your Latest Jobs Newsletter

Expat Network circulates a Jobs newsletter every month, the latest looking at tips for getting the best flight deals and examining some of the issues to consider when assessing a salary abroad. If you have missed the latest newsletter you can view it by clicking below.

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