[cathgates]

We are hoping to move to NZ in the first half of next year once the house is sold.
We have several loans and credit cards mounting to about 25k. We are lucky in that we don't have a mortgage and will sell the house around 125/128k
We didn't want to pay off our loans as one lump sum if we can help it as this will drastically reduce our capital when coming over - we have to take the visa route and could potentially take 2 or 3 months to get a job.

Does anyone know wether the loans can be continued to be paid at the same monthly rate as we do now? I didn't want to call the bank as I didn't want to start a panic with them!!

Thanks
Cath x

[thirtysomethings]

Im not a financial adviser but my first advice is pay your debts off and start over here afresh. Yes it will give you less equity over here but you can start with a clean slate.
How do you intend to finance paying off the debts?
Yes you can leave your uk accounts open direct debits active etc and your loans etc will continue to be payed.
But if you intend NZ wages to service this i.e sending money back(Unless your going to be earning big bucks) I dont think this is practical - exchange rate fluctuations etc plus .The power lies in sterling to dollar (dependant on rate of course)
Do a search for Avalons money thread - I would recomend arriving debt free.
But hey life would be boring if we all thought the same!
Good luck:nice1

[james the mechanic]

The thought of arriving in NZ with £25k of UK debt would scare the be-jesus out of me; however I suspect that most of that borrowing is at a significantly lower interest rate than you would currently achieve in NZ.
So provided you can make the repayments it actually may, be a smart move if you are going to have to borrow it again once in NZ.
But personally I would pay it all off and start afresh. £100k is still a lot of equity to bring over, but I’m certainly no expert.
Best of luck
James