Which Australian cities are UK expats moving to?

 Which Australian cities are UK expats moving to?

Unpolluted air, dependable weather and a reputable economy make Australia an enticing haven for British expatriates. Australia’s unspoiled scenery is complimented by it’s glowing reputation of being among the safest and most stable countries in the world. 1.27 million UK expats have already relocated Down Under and the numbers are still growing.

uk expats

Australia appeals to a range of nationalities and is blessed with a colourful, multicultural society. 43% of Australians were either born overseas or have a parent who originates from abroad. As an emigration hot-spot,  “Straya” has an ensemble of residential cities which frequently feature among the ‘world’s most liveable’. But which are the most popular for UK expats?

1. Melbourne

in 2017, Melbourne was named as the world’s most liveable city for the seventh consecutive year.

The glowing reputation is a direct effect of Melbourne’s emergence during the 1850’s. The exquisite Victorian architecture and green, public parks boost the city’s attraction.

Melbourne is widely recognised as the nations sporting capital and plays host to a number of international events, including the Australian Open and Australian Grand Prix. The capital of Victoria is also famed for being the cultural hub of Australia.

2. Sydney

Sydney’s Opera House and Harbour Bridge are the iconic snapshot of Australia, and the city has been drawing the expat crowds for decades. Often mistaken for the capital of Australia, Sydney is the nations largest city and is home to an eclectic array of  5 million residents. 

Having featured regularly in the worlds 10 most liveable cities, Sydney ranked 11th in 2017. The vibrant suburbs of Manly, Bondi and North Sydney all offer first-rate independent communities. Whilst Sydney’s beaches are globally recognised among the worlds best.

3. Adelaide

Adelaide is the hotbed for Australian wine and hosts an enchanting array of national parks and wildlife reserves. Anything worth visiting in Adelaide is within a half hours drive, earning it the label of the “30 minute city.”

In 2017, Adelaide tied with Calgary for the fifth placed finish in the worlds most liveable cities. Away from the rat-races of Sydney and Melbourne, Adelaide offers a quieter and slower pace, with an alfresco lifestyle and cheaper cost of living.

4. Perth

Locally recognised as Australia’s “best kept secret,” Perth offers sanctuary away from the well-trodden east coast. Having ranked 7th in the worlds top 10 cities in 2017, the vivid Perth has had a steady migration growth from UK expats.

With a thriving economy, beautiful weather, low unemployment rates and affordable property prices, Perth ranks highly among it’s sister cities. The city is progressively modernising and its stock will inevitably continue to increase.

5. Brisbane

Often referred to as the “Sunshine State,” Queensland is the residential hub for working on your tan. With an average 283 days of sunshine a year, Brisbane proposes a sub-tropical climate, with intriguing rain-forests and world renowned beaches.

Brisbane is also a rapidly developing business core of Australia, meaning the number of job opportunities are increasing. The Commonwealth Games are currently being held at Gold Coast City, which is within close proximity of Brisbane.

UK expats unclaimed money

If you, or a family member has emigrated from the UK, you might be owed a sum of unclaimed assets. Amidst the chaos of moving, you may have forgotten to notify one of your financial providers about your change in circumstance. If they have been unsuccessful in contacting you, there is every chance they could have locked the funds within the account.

But don’t worry, Monimine can help you … for FREE. By searching at www.monimine.com, you can definitively discover whether you have any lost money owed to you. If the data you enter matches with the information we have, we can reunite you with your cash.

Even if you’re sure that you left no pennies behind, the service is free and wouldn’t it be worth double checking?

No costs, big rewards ….. what’s to lose?

Search today at monimine.com 

Josh Cousens – Monimine. 

 

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£90 million from dormant accounts to be used to tackle racial inequality

£90 million from dormant accounts to be used to tackle racial inequality

Theresa May has pledged to use £90 million from dormant accounts, to help deal with racial inequality. The unclaimed funds will be sourced from accounts which have been inactive for at least 15 years. The cash will put towards the inequalities in youth unemployment and helping underprivileged young people gain jobs.

dormant accounts to help racial inequality

The action has been taken after the Race Disparity Audit was released in October 2017. The study revealed that 16 to 24 years-olds from ethnic minority groups, were twice as likely to be unemployed as their white peers.

Theresa May said, “youth unemployment blights communities and wastes talent and potential – and too many young people from deprived and ethnic minority backgrounds face barriers preventing them from entering the world of work.”

The added funding will present opportunities for young people to work with educators and youth and community organisations.  The organisations will be able to assess their skills and explain the best ways that they can help their local communities and businesses.

The government first announced their plans to use the assets from dormant accounts in January 2018. It was reported that £135 million from dormant accounts would be used to combat homelessness. This was also when we initially heard of the plans to use dormant assets to help disadvantaged young people into employment.

Why a backlash?

A social media reaction has focused on the negative viewpoint of using assets from individuals bank accounts – despite being dormant. One user on Twitter explained that,

“it’s their money, you can’t just take it,”

whilst another said that the whole thing was,

“blatant theft.”

The government are only able to utilise assets that have been untouched for at least 15 years. Whilst the relevant financial institutions will have made a considerable effort to have traced the owner. Due to a change of address, or adopting a new name, some people manage to slip through the net and are never traced.

But there is good news in the legislation of the Dormant Bank and Building Society Accounts Act 2008. If any owner of assets comes forward and can prove the money is theirs, they can be reunited with their cash. Even if it has already been paid out for charitable purposes. The Reclaim Fund is regulated to maintain a reserve limit, in the case of owners coming forward.

Where we come in

If you would like to determine if you have any unclaimed money from a dormant account owed to you, head to monimine.com. Using our nationally recognised tracing expertise, we can help you unearth any hidden assets, for FREE.

Josh Cousens – Monimine. 

Image source – Flickr

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UK government to use £330m from dormant accounts to combat homelessness

UK government to use £330m from dormant accounts to combat homelessness

Millions of pounds from dormant bank and building society accounts have been earmarked to tackle homelessness and aid vulnerable young people in England. This action has been taken by the government to create a “fairer society.”

dormant accounts money to help homeless

Tracey Crouch, minister for sport and civil society says that the money will help to make a real difference.

“This is part of the government’s commitment to building a fairer society and tackling the social injustices that hold people back from achieving their full potential.” 

The unclaimed money will be taken from personal financial accounts that have been inactive and untouched for at least 15 years. Financial institutions will have unsuccessfully attempted to trace the owners of these accounts and contact will have been lost.

Using financial assets from UK dormant accounts to fund charitable causes was first demonstrated in 2008. The Dormant Bank and Building Society Accounts Act was passed in 2008 under Gordon Brown. This law authorised, ‘the distribution of assets from cash accounts that have been inactive for fifteen years.’ 

Over the next four years, £135m has been allocated for homeless housing initiatives and on social enterprises and local charities. An additional £90m is promised to help disadvantaged young people into employment. Whilst a further £55m will be spent on tackling problem debt and aiding ‘financial inclusion initiatives.’

The remaining £50m has been designated to the developed administrations of Scotland, Wales and Northern Ireland.

Good News

If you think that you may have lost contact with one of your financial accounts, you don’t have to worry. Although this money may be put towards homeless initiatives, you are still able to reclaim any money which is rightfully yours.

The Reclaim Fund are the organisation that is used to recover money from dormant UK accounts. Their chief executive, Adrian Smith said;

We will continue to work hard in ensuring that consumers can at any time reclaim money owed from their dormant accounts while working with the government to deliver further funds for good causes.”

The Reclaim Fund are required to retain a chunk of their money in order to repay any account holders who come forward to claim their cash.

If you are interested in discovering whether you are owed any unclaimed money from a dormant account, we can help. By registering for FREE at monimine.com, we can help you determine whether you are the owner of any outstanding assets.

Josh Cousens – Monimine. 

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Finding international unclaimed assets at Monimine.

Finding international unclaimed assets at Monimine.

A few months ago, we received an interesting email. It was from a man who had been residing in South Africa. He had taken out a pension policy over 15 years ago with Norwich Life, which he had since lost connection with and had inherited unclaimed assets from.

finding international unclaimed assets

After unsuccessfully trying to contact his pension provider, he wrote to us, to see if we could help him locate his unclaimed assets. Although it wasn’t our usual field, we were more than happy to respond to Mr Cox and we promised to look into his case.

The pension policy which Mr Cox had held, was from a previous job and he had since forgotten about it. This example shows how easy it can be for money to become lost, and trapped within financial accounts.

Having investigated, Monimine founder, Bruce Cane was able to locate the business. He discovered that Norwich Life had since been sold to a consolidation company. Using thorough research techniques, we discovered where Mr Cox’s policy was now held.

We supplied the name of the business and contact details for the relevant department. Fortunately, Mr Cox was able to reconnect with his policy and was delighted to find a substantial £7,000 of unclaimed assets.

This case illustrates that with the right tools and knowledge, lost money can be recovered from closed businesses and dormant accounts. Even though the policy was situated outside of the UK, Monimine were still able to locate it and reconnect the holder with their money.

Mr Cox was elated with the service we had provided for him and wrote this kind testimonial about Monimine.

international unclaimed assets

You might have unclaimed assets too …

If you think you may have unclaimed assets owed to you, Monimine can help. Even if you are positive that you have never lost money, by searching for free through Monimine, you can be 100% sure.

We are leading experts in finding lost funds and leave no financial stone unturned. You greatly increase your chances of reconnecting with unclaimed assets by using Monimine.

Search today at monimine.com 

Josh Cousens – Monimine. 

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The mystery of dormant accounts explained …

The mystery of dormant accounts explained …

dormant accounts explained

You’ve probably heard Monimine repeatedly talking about dormant accounts. But what exactly is a dormant account, and can any financial account potentially become dormant?

Natwest deem an account dormant and no longer live, if it has been inactive for five years or more.

Why do banks change accounts to dormant?  

It is a prevention method. If the owner is not seen to be paying attention to the contents of their account, it can become vulnerable to fraud.

What happens when the account becomes dormant?

The bank will attempt to contact the customer, to notify them that their account is being suspended.

So why is there a problem?

Numerous banks will send a singular letter, and if the customer has moved address, they may never receive notification.

Other hiccups

Once a bank has announced an account dormant, it’s removed from central databases. If you then try to ring up the bank and enquire about your account, the call centre staff will be unable to view it on their system.

What happens if the account holder is deceased?

A large number of dormant accounts belong to holders who have passed away. If an inadequate probate administration failed to trace these accounts, it’s very possible that they may never be claimed.

Can family relations not claim the accounts?

If an account continues to be dormant for at least 15 years, the financial contents are passed on to the government’s unclaimed assets scheme. Where the funds are used for charitable causes.

Is the money then lost forever?

The good news is that, even if the money has been passed on to the unclaimed assets scheme, the account holder is still able to reclaim the assets at any time.

Monimine has been established to help deal with the difficulties surrounding dormant accounts. Members of the public are able to conduct a search for any lost assets, which may belong to them or a member of their family, for free. All they are required to do, is to input a short family history, and if a match is found, Monimine can reunite you with any outstanding money which is owed to you.

Find out if you are entitled to any unclaimed funds, for free. monimine.com 

Josh Cousens – Monimine. 

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