We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Looking for a loan for property renovation.
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.
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.
0
Comments
-
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.0 -
Maybe try a lender in france.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards