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Getting a UK loan when living abroad
I am currently trying to figure out the best way to pay off my debt. I took out a Professional Career Development loan for my masters study in the Netherlands, however the interest rate on this is very high. It was recommended on this site to actually pay off the PCDL with another, lower interest, loan, which I have always planned on doing. However, I actually found a job in the Netherlands and now live here. My salary gets paid into my Dutch bank account. Therefore, I am worried about the implications this may have when I try to apply for a UK loan - can I even get a loan in the UK if my salary isn't being paid into an English account? I would try to apply for a loan (in euro) here in the Netherlands, but I have to show at least 12 months of salary income, and I've only been at my job for one month at the moment. What would be the best course of action?
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Comments
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With only 1 month of salary you probably won't get a loan anywhere, stick with the loan you have and then after 12 months try for a loan in the Netherlands.2
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Usually being resident in the UK is a requirement for getting a loan in the UK and you are not resident in the UK. Your option are to wait until you can get a less expensive loan in the Netherlands or to overpay your PCD loan to reduce the amount of interest paid.hgreep said:I am currently trying to figure out the best way to pay off my debt. I took out a Professional Career Development loan for my masters study in the Netherlands, however the interest rate on this is very high. It was recommended on this site to actually pay off the PCDL with another, lower interest, loan, which I have always planned on doing. However, I actually found a job in the Netherlands and now live here. My salary gets paid into my Dutch bank account. Therefore, I am worried about the implications this may have when I try to apply for a UK loan - can I even get a loan in the UK if my salary isn't being paid into an English account? I would try to apply for a loan (in euro) here in the Netherlands, but I have to show at least 12 months of salary income, and I've only been at my job for one month at the moment. What would be the best course of action?1 -
No bank will give you a loan if you're not a Uk resident because the bank have no jurisdiction to chase you for it should you fail to pay, good luck with finding one in the Netherlands1
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Thank you for your replies, they're very helpful!0
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