Loans without 3 year UK address history?

chloepom

I am a dual Aussie and British citizen and have lived in the UK for the last 1.5 years. I'm now looking at getting a loan of about £4000-£5000 for a car but it looks like you need at least 3 years of UK address history to be eligible? Does anyone know of any lenders that are a little more lenient with this?

DCFC79

chloepom wrote: »

I am a dual Aussie and British citizen and have lived in the UK for the last 1.5 years. I'm now looking at getting a small loan (£4000-£5000) for a car but it looks like you need at least 3 years of UK address history to be eligible? Does anyone know of any lenders that are a little more lenient with this?

My credit score is higher than average, I have lived in the same rental property since I moved here, I'm on the electoral role... I'm not sure what else I can do to be given a chance!!

Well luckily your score is only seen by you, lenders see your history.

iolanthe07

I think you'll find that all reputable lenders will expect more than 1.5 years residence before granting a loan. I had the same problem when I moved to the USA, but in the end was helped out by a friendly and trusting bank manager. Have you tried your UK bank? Actually going in and talking to someone rather than applying on line?

chloepom

Interest rates through my bank are pretty high but I think it might be my only option, thanks!

Nasqueron

Maybe get quotes for car finance, they tend to be a bit more willing to loan money than a bank as they can simply take away the car from you if you stop paying

poppasmurf_bewdley

chloepom wrote: »

I am a dual Aussie and British citizen and have lived in the UK for the last 1.5 years. I'm now looking at getting a small loan (£4000-£5000) for a car but it looks like you need at least 3 years of UK address history to be eligible? Does anyone know of any lenders that are a little more lenient with this?

My credit score is higher than average, I have lived in the same rental property since I moved here, I'm on the electoral role... I'm not sure what else I can do to be given a chance!!

A loan of £4/5k is NOT a small loan.

When you have diddly squat, it's a massive amount.

chloepom

poppasmurf_bewdley wrote: »

A loan of £4/5k is NOT a small loan.

When you have diddly squat, it's a massive amount.

Fair enough... compared to friends of mine who have had loans or finance around £10000 I consider it a small amount but thanks for your opinion??

gurtsn

Hi there
I am in a same situation, 10 months residency in the UK.
Did you manage to access a loan yet?
I found few companies that will grant a loan for bad score and without 3 years address history.
But with a tiny 49%APR.
I am with NATWEST, going and talking face to face with them would help?
Cheers.

[Deleted User]

The OP is unlikely to return at this stage.

You won't get a low rate loan if you have poor or little history. You local branch can't override the risk rating.

Best plan is to save for what you need, or look for other alternatives.

DCFC79

gurtsn wrote: »

Hi there
I am in a same situation, 10 months residency in the UK.
Did you manage to access a loan yet?
I found few companies that will grant a loan for bad score and without 3 years address history.
But with a tiny 49%APR.
I am with NATWEST, going and talking face to face with them would help?
Cheers.

Chloe wont be coming back.
What is it you need the finance for ?


I agree with ZX81 and save up what you need.

gurtsn

Need a bigger, more spacious transport for my street food business. Dont want to use all savings and not to have backup.
But seems like saving for it would be the only wise choice with this rates.