Looking for a loan for property renovation.

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Naw
Naw Posts: 1 Newbie
in Loans
Hello all,
I am looking for a £22k loan over 4 years to renovate a property I have bought 10 months ago. However, The property I own is in France with a French mortgage. Currently I live in the UK with my parents as I work here.

How should I describe my situation to most likely get offered a loan? Eg. If I describe myself as a home owner will there be issues that I do not live in the home that I own. If I say that I live with parents is that less favourable?
Aside from this my credit rating is good 998 and I earn approx £42k and have no other debts.
Any thoughts or advice would be appreciated.
Cheers.

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  • tacpot12
    tacpot12 Posts: 7,972 Forumite
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    You need to answer correctly all the questions that the loan provider asks.

    Your situation is unusual, and you may find that most lenders ask enough questions to establish that you don't fit their lending criteria.

    Your starting point should be to find a lender that will allow you to declare a residential address in France and a Correspondence address in the UK. I don't know of any that definitely allow this, but I would suggest you try HSBC.
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Maybe try a lender in france.
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