Sending funds to Canada to buy a house?

[Marypetty]

Will soon be selling up and moving from UK to Canada. Can anyone suggest the best way of transferring funds for new house etc? Am thinking of money transfer companies like Moneycorp or UKForex instead of the bank, but would really appreciate some input or information from others who have transferred funds. Many thanks.

 

[Gogia]

To buy a house in Canada u have to prove the bank if u r getting mortgage on house that this money transfer from UK from your account through legal ways into Canadian bank,
FOR MORTGAGE on house banks will ask u all bank transaction receipts plus both account information, also the money u bringing u claiming if it's your money, they want letter from that bank too might be, for how long that money was in that UK bank etc.
Keep all receipts and tax papers from UK they might also ask for it. If u want mortgage on house in Canada. All this because of money laundering act in force in Canada, it called in legal language FIntrack. They want to make sure that this money is not from fraud or from. Illegal earned etc. My recommendation is to transfer through Govt. Bank to any Canadian bank, u might get less exchange rate but it's better. GOOD LUCK.

 

[canuck_in_uk]

Will soon be selling up and moving from UK to Canada. Can anyone suggest the best way of transferring funds for new house etc? Am thinking of money transfer companies like Moneycorp or UKForex instead of the bank, but would really appreciate some input or information from others who have transferred funds. Many thanks.

I definitely recommend online transfer companies. I transferred a lot of money through Tranzfers (a subsidiary of OzForex like UKForex) and never had any issues. Great exchange rates, fast transfers, much easier than dealing with banks.

 

[taffy7]

Mary if you have a bank account in Canada you can write yourself out a cheque and deposit it here ,once you arrive, or have someone else deposit it before you arrive .

 

[Tigurius]

Mary if you have a bank account in Canada you can write yourself out a cheque and deposit it here ,once you arrive, or have someone else deposit it before you arrive .

To speed things up get a bank draft from back home and just make sure you declare it when you get to customs - all they'll do is ask why you have so much - then deposit it in the bank you open here.