Loan when income is foreign

Englishrose18

I would really like some suggestions. I came home from abroad three years ago and retired a year ago, although i am bored silly so plan to go back to teaching. Anyway, i have some debt from getting established here - and i actually goofed with one of the two cards i have and used it for purchases, only too find there is a high interest rate for purchases! Anyway, i found out i have a large taxes to pay as well, so i thought i would get a personal loan to pay off the two cards and also the taxes with the idea of paying it all off within a year after returning to work. I called a bank and everything looked good until they heard my income was from abroad. I do have a very small pension from the UK but it is not sufficient to qualify on that alone even though my gross income is good.

This concerns me because i need the loan in the short term. Will this be the case with all banks?

Any suggestions are welcome.

PS: According to the eligibility calculator here at MSE i don’t qualify for another money transfer card. Not sure if that is because I am paying interest after using half of it for purchases.

jonesMUFCforever

Yes I'm sorry to say.

[Deleted User]

What is the income that you're getting from abroad?

And what are the taxes you need to pay - do you mean income tax? Or something else?

Consolidation loans are hard enough to come by as it is, and you seem to have some added complications that will worry lenders.

Englishrose18

The income from abroad is pension income - guaranteed.

Yes, income tax.

If this is the case with all banks, I won’t bother to try others. It must be British law.

Any suggestions what other route I could try?

Englishrose18

If I could get another money transfer card it would help but when I tried the eligibility calc I didn’t qualify for any. Do you think it is because I stupidly used half of one of my two cards I have now for purchases at a high interest rate? If so, I could perhaps pay off all those purchases. Would that help me qualify for a card?

[Deleted User]

The less debt you're carrying, the more likely lenders are to accept you for further credit.