Our money expert, Peter Miles from UniZest, is back and he has some exciting news!
With all of the recent uncertainty following the UK vote for Brexit it is easy to become distracted from the fact that London remains at the pinnacle of Global Cities. London continues to provide truly amazing opportunities and experiences to visitors and citizens alike.
And now, in a very positive way for international students choosing to take advantage of some of the world’s top universities, it is considerably cheaper to live and study in London.
Same Global City, same world-class education, same amazing cultural vibrancy but now your money goes a lot, lot further which makes your experiences even better.
So here are just 2 powerful reasons to be London bound this summer:
- London remains an Open & Welcoming City
London is an incredibly diverse, dynamic and welcoming City. It is a City that prides itself on providing a vast range of experiences and opportunities to people from all cultures and creeds.
As the new Mayor of London, Sadiq Khan, made clear recently in his letter to London universities in which he says:
“Together, we will ensure London continues to be the best place to study, do business and innovate and a city where all Londoners can take advantage of these opportunities’.
So there has never been a better time to come and join us and become a Londoner for a few years … or maybe longer!
- Your Money is worth more – London Life is cheaper
As many economists and financial experts predicted the UK decision to Brexit could result in changes in the UK economy.
Without wanting to bore you with the detail, the key one that directly impacts all international students is the sterling exchange rate. Widely predicted to decline significantly if the UK decided to leave the EU in the referendum it duly obliged and at one point sterling was at its lowest rate against the US Dollar for over 30 years.
Most economic forecasters believe that our currency will continue to decline against all other currencies and, believe it or not, that is GREAT news for you!
It means that when you exchange your currency for UK sterling you will get much more than you would have got before and effectively everything becomes cheaper for you – tuition fees, accommodation, and general living expenses.
This is all extremely positive news for international students who will benefit from a 15% or more effective devaluation in sterling which means that everything in London is cheaper.
To ensure that you make the most of the additional value you can get with your home currency you need to check you are getting the best rates when changing your currency in to UK sterling.
To get some useful information about how foreign exchange (FX) services work you can check out this short animation:
In addition you might like to look at services that combine a really easy and cheap foreign exchange service alongside a UK e-current account and Visa Debit such as the Aspire Account that is provided by UniZest Ltd – Aspire Account
So in summary you have the enviable opportunity to be able to come to the greatest City on the planet at a time when your currency will buy you 15-20% more of what London has to offer than it would have done previously. Now that really is a no-brainer.