how-to-move-to-paisley

Your How To Guideline For Moving To Paisley Amid The Coronavirus

Paisley is among the largest towns in Scotland with a rich history. The historic town rose to prominence in the 12th century with the establishment of the Paisley Abbey, a key religious hub. Paisley’s charm is its peaceful life in a Victorian setting with modern amenities and entertainment. 

Located just 25 minutes away from Glasgow and one hour from Edinburgh Airport, Paisley is easily accessible via the M8 and the M77.

Home Prices

Perhaps the most important consideration individuals and families need to make before moving is home prices. Scotland’s national currency is the British pound and those coming from the European Union and abroad should do the necessary research on currency exchange rates and trends. It is important to understand in advance if life in Scotland will be cheaper and the key to compare how to save money is by working with an online money transfer service to bring down housing costs as much as possible.

Large detached and townhousestypically range from £250,000 to £500,000 while detached houses range from £130,000 to £250,000. Semis offer a more budget-friendly option at around £120,000 to £330,000 while terraces and cottages can offer more savings at an estimated cost of £110 to £160,000.

COVID-19 Concerns: Moving Plans On Hold

The global COVID-19 pandemic impacted nearly every country and every industry, especially the real estate market. According toofficial guidelines from the Scottish Government, the residential real estate market remains in “Phase 1.” Current law (as of June 2020) states:

“Aside from the work needed to progress reasonably necessary home moves, no home visits should take place by any other person or business in relation to anything connected with the purchase, sale, letting or rental of residential property.”

The law further adds “members of the public are prohibited from engaging in any aspect related to the purchase, sale, letting or rental of residential property, other than for a reasonably necessary move.”

The government’s “Phase 2” stage calls for the relaxation of restrictions on the real estate industry. Only at this point can members of the public view (social distancing rules still apply) and purchase properties.

There is no specific date for the commencement of “Phase 2.” The government notes it needs to see “evidence of transmission being controlled.” In the event that the virus “remains suppressed, and the evidence allows us to do so — then gradually, more restrictions will be removed.”

Beyond the COVID-19 pandemic, standard rules and regulations for immigrating to Scotland apply. British citizens and those belonging to one of the European Economic Area (EEA) neighbors don’t need a visa to live and work in Scotland.

It is important to note the United Kingdom officially left the European Union in January 2020 and will continue following European Union rules through the end of the year as part of a transition period. 

Further details will be updated as they become available although it would be reasonable to assume the COVID-19 pandemic might postpone the deadlines.

Lastly, Scotland is known for welcoming people from all across the world. Anyone who isn’t a European Union citizen isencouraged to consult with a registered immigration advisor or even find a private solicitor through the Law Society of Scotland.

While Waiting: How To Transfer Money

Due to the COVID-19 pandemic, it is currently impossible to move to a new home in Scotland. But the financial aspect of the moving process can still be completed online.

The national currency of Scotland is the British pound sterling although the Bank of Scotland, Royal Bank of Scotland, and Clydesdale Bankissue their own banknotes. Foreign currencies, including the euro and U.S. dollar are likely accepted at tourist hotspots at an extremely unfavorable exchange rate.

It is highly recommended to open a bank account at a branch that is physically located in Scotland. Most people living outside the United Kingdom but within the European Union can do so online with relative ease. 

After opening up a bank account, anyone can use an online money transfer service to transfer funds at competitive rates traditional banks can’t come close to offering. Typically, online money transfer platforms offer savings of around 4%, especially on large transactions. So, transferring the equivalent of £250,000 to pay for a new home could translate to savings of around £9,000.

The process is quite simple. First, take time to research the multiple money transfer services, and don’t be afraid to inquire if there is a special rate for large transfers. After selecting the best platform, all that is needed is to fill in some forms, confirm bank account details, and submit photo identifications.

At this point, a transfer can be made from the home bank to the new Scottish-based bank. Typical transfer time is less than two days but actual time can vary.

Many online transfer services offer a unique feature called a forward contract. This would be an ideal option for anyone that is moving in one or more years but want to lock in an exchange rate.

The way it works is simple: a forward contract lets anyone buy or sell a currency pair at a predetermined date at a set exchange rate. Doing so all but eliminates potential losses from being on the losing side of exchange rate fluctuations.

Anyone outside of the European Union might want to sign up for one of the British pound “virtual wallets” offered by many of the online money transfer companies. When the time is right, the funds can then be transferred to a Scottish bank account.

If someone is just visiting Scotland and not yet ready to commit to buying a home, some money transfer services offer a prepaid credit card. In fact, most allow for multiple currencies to be loaded onto one card at the same time and it is used just like a standard credit card.

Bottom Line: Be Patient, The Time Will Come

The COVID-19 pandemic makes moving to Scotland nearly impossible, but the time will ultimately come when dreams turn into reality. Stay positive, and keep in mind the decision to limit certain aspects of life is due to public health measures.