Loan Provider for a UK Citizen living abroad

white0897

Hi
I'm a UK citizen living abroad. I'm in Australia as a temporary resident and plan to be here for 3 years. After that I'll be returning to the UK.
I'm looking for Loan provider who will loan me 27k to consolidate credit card debt.
I own a houes in the UK which is currenlty being rented.
I am in full time emplyment and earn $115k pa.
I have looked online and all loan providers I have found require you to be a UK resident. I have looked at switching credit card providers but again, I need to be a UK resident.
I have a bank account with Lloyds TSB and have approched them, Their interest rates are not good and actually cheaper to keep paying the credit cards.
So, If you know of a lender who would consider please let me know.
Thankyou for taking the time to read this thread.

immoral_angeluk

I think you'll struggle with a UK lender, as 99.9% of the time they require you to be a UK resident, regardless of citizenship.
Best bet would probably be an Australian bank.

view

Why don't you get a loan from an Australian bank (depending on which visa you're on) and then transfer the money to your UK bank (using Tranzfers or similar) and then pay the Aussie loan off with the wages you're receiving in Australia? The AU vs GBP is reasonably strong just now so it's not like 5+ years ago where the conversion rate would have meant you would have lost out hugely. Just remember, you have to pay the loan in Australia - there's no get out clause - Australia can and will chase you in the UK for any unpaid load + fees. Not saying you wouldn't pay the loan... just a bit of friendly advice...

white0897

Hi. Thanks for advice. I've tried Aus' banks but as I am on a temporary visa they are not willing to lend, which is understandable.
My gut feeling was that there would be no lenders willing, especially considering the global situation, but worth asking.

bargainbetty

You might be able to obtain a secured loan against your property, if you have sufficient equity, but most people here would recommend against CC debt be converted to secured debt.

Perhaps you could contact the CC providers and ask about reduced interest rates, or balance transfers to cheaper cards.

Good luck

Getsis

I got round this by changing my UK bank account to the house address I rented in the UK, got the loan then changed it back to my overseas address, the girl in bank new what I was doing and changed the address back for me 2 weeks after the loan went into my bank account (LloydsTSB)