Hi All,

Unfortunately I have managed to gather a bit of debt in the uk, however I am determined not to let this hold me back from emmigrating.

How would credit ratings work in AU if I were to attempt to borrow money, or would it be better to keep the debt in the uk and transfer repayments back each month?

Does anyone know if australian rates are more preferential to uk?

Thanks

G'day

Borrowing money here will cost around 7.5% is secured by real estate (i.e. a mortgage), unsecurred person loans can be obtained from around 14% going up to whatever loan shark rate you need.

As a general observation, many folks earn less in absolute terms when working in Aus and consequently find it very difficult to earn enough to repay a debt in the UK.