urgent

darkblue_2

T'was in jest. But:

Are you originally from UK?

If not you will not get anything for 3 years - fact.

That is specifically mentioning nationality rather than banks being lenient with the dosh.

chexum

jonesMUFCforever wrote: »

If not you will not get anything for 3 years - fact.

That doesn't seem to be a general truth, maybe not even for "most banks". From what I've seen, the worst factor of the scoring is not residency, or nationality, but the lack of history.

I have the feeling that some lenders only ask for nationality so that they can see if there's any chance to find the person on the electoral roll.

I have observed a few examples though that indicates some lenders don't really care about the full 3 years if other circumstances make you desirable:

- egg - explicitly requests only 2 years of addresses. Some time ago, there even was a note how to enter a special postcode noting that the address was overseas.
- nationwide - has a specific option to indicate that an additional address was not an UK address.

I've also seen that occasionally they don't even ask the full 3 years of address history, that may need the recent ones to be confirmed on the ER though.

Credit history seems to be one of life's greatest problems, how to get that dreaded "experience" if noone let's you prove yourself? For most of us, someone did, and now we're all here.

Curt.

costaerer wrote: »

I'd apply. They won't neceserally offer you one without applying!

Actually in Lloyds' case, they rarely approve any lending products they dont already pre-ap you for...

I had to bug my personal manager no end before they finally agreed to offer me a CC...

Curt.

darkblue wrote: »

Is that Lloyds TSB policy? I have a friend who is Polish - lived here for 2 years and has £13k of unsecured debts (loans, credit cards, etc)

Depends on who you can get to do your bidding. (Not meant to be sarcasm).

Curt.

iereboy wrote: »

Don't bother applying .

Ring up phonebank and they'll let you know if you are eligible. They can see if you can have one straight away.

Main reasons for not being eligible (the list is endless):

CPD marker - simax jump in here
Credit file information
Not enough history
Bad history
Missed payments
Not enough money going in
Average balance not high enough
Mismanaged Credit Cards in the past
Fraud indicators

Every 21st of each month its updated.

Good luck

They have a grade system, A to E right? I think they now changed it to just update towards the latter end of the month in general but its still pretty conservative.

jonesMUFCforever

It is not discrimination anymore than saying to someone who is unemployed - no we will not give you a loan.
It is common sense - banks lost money hand over fist to people who came here to work for a short time and left the country without paying what they owed whether they be Polish,Chinese or from the planet Mars.

darkblue_2

I hear a lot of Martians are avoiding paying their debts. It's a terrible problem.

The actual thing that caused the recession was toxic debts in the housing market. People borrowed more than they could afford to repay when interest rates hiked. Banks crashed, jobs were lost, knock on effect.

Where do Poles, Chinese or Martians come into that? Why single them out? I deal with a debt collection company and the majority of our debt is from British born people. We don't have specific lending criteria that stops other races applying, so where is your logic? From the Daily Mail?

Curt.

jonesMUFCforever wrote: »

It is not discrimination anymore than saying to someone who is unemployed - no we will not give you a loan.
It is common sense - banks lost money hand over fist to people who came here to work for a short time and left the country without paying what they owed whether they be Polish,Chinese or from the planet Mars.

You're preaching to the choir here! :T:T:T

darkblue_2

The amount of closet racists in the world truly shocks me.

jonesMUFCforever

darkblue wrote: »

I hear a lot of Martians are avoiding paying their debts. It's a terrible problem.

The actual thing that caused the recession was toxic debts in the housing market. People borrowed more than they could afford to repay when interest rates hiked. Banks crashed, jobs were lost, knock on effect.

Where do Poles, Chinese or Martians come into that? Why single them out? I deal with a debt collection company and the majority of our debt is from British born people. We don't have specific lending criteria that stops other races applying, so where is your logic? From the Daily Mail?

There is good reason for this - 1 The majority of people in UK are British and 2 Banks no longer lend to individuals who are not permanent residents of 3 years or less so indeed you would not notice many foreigners nowadays.

The recession did indeed explode through the housing market - 125% mortgages for example and people putting excessive consumer debt on their mortgages.