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Things to remember before you travel to the USA
Before traveling to the USA, you may spend days, weeks or even months planning your trip – the following points summarises the important things to do before leaving the UK.
1. Confirm type, location and price range of property to be viewed. Work with Jody and Dave to create short-list of suitable properties to consider.
2. If arranging a UK mortgage before you leave, ensure that approval is granted. Usually it is best to have the cash available before you leave for Florida as you may need to move quickly once you get here.
3. If you are arranging a US mortgage through us, it is best to be introduced to one of our mortgage brokers before you leave. Costs can be discussed and documents exchanged to keep the work to a minimum when you get here. As a rule of thumb, you will need a 25% deposit, although if you are prepared to disclose all UK assets and income, 20% will work.
4. If possible, obtain letter of introduction from your own bank – ideally two copies. You do NOT need a bank reference, simply a letter confirming your name, address, account number and confirmation of how many years with that bank. This will make opening a US bank account much easier. We normally recommend Wachovia Bank ( formerly First Union Bank and one of the largest in the USA ), who offer special terms for our clients.
5. Arrange / book flights to Florida and arrange accommodation – we can help with this – as us about discounts for “Inspection Trips” .
6. Ensure you bring sufficient funds with you to cover deposits and incidentals ( $2,000-$3,000 ). This can be in the form of Traveler’s cheques or money or can be transferred from a debit/credit card directly into your US bank account.
7. Ensure you have your UK bank details with you ( e.g., fax number, manager’s name )
8. Ensure you bring your driving license ( even if you are not intending to drive ) for ID purposes
9. If using Credit Card for accessing cash in the US, ensure you know your PIN and pre-warn your card provider that you will be possibly withdrawing cash in the states, or they may block the card when you try.
10. Set up an account with Halewood International Foreign Exchange (HIFX Ltd), for your eventual currency transfer. HIFX are an International currency transfer company who will usually offer you a much better rate of exchange than the main UK-based High St Banks. You need to call / email Halewood to set up an account for transferring sterling to US Dollars at least a week before you leave. They will send out an information pack and application form. There are no fees. Once you return their application, they will set up a personal account for you. You will then be able to wire transfer to your US bank account ( using the details supplied by the bank when you open the account here ) or wire transfer funds directly to the title company who will look after the searches and conveyance, once we receive wiring information from them.
See the HIFX page on this site or;
Contact details for HIFX:
HIFX Ltd, 59-60 Thames Street, Windsor, Berkshire SL4 1TX
Tel: 01753 859159 Fax: 01753 859169
Website: http://www.hifx.co.uk
Our contact there is Jody Cracknell (Private Client Desk Manager) who can be contacted on the numbers outlined above, or by e-mail on: jody.cracknell@hifx.co.uk
Please quote our customer reference number 85335
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