conversions
Conversions are your problem. You could do a cpl(h) here in australia where the hours are cheaper but then to convert it costs a fair amount. When I looked into CPL(H) in the UK 500 hrs ground school was required and the hours were more. I did my ppl(h) and then moved over here to complete. But my intention is to stay here. Conversion to JAR CPL(H) still seems impossible with the costs involved. It may seem that to do a CPL in one country is giving you cheaper hours when you convert your UK pounds but the costs really start to bite when you work out how it will cost to convert it. When I did the sums 4 years ago the cost of obtaining my licence here in Aus and converting back in the UK were the same as if I had just done it in the UK.
It depends where you want to work also. Here in Aus you need to start building contacts asap so if you do your licence elsewhere your fellow students already have the jump on you.
Good luck but for your UK pounds NZ would probably give you the cheapest conversion rate for hours.