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Can I get a UK loan while living overseas?
Hi everyone - basically as the title says, is this possible? My UK credit history is excellent but it's highly unlikely my German credit history will allow me to borrow the amount I need to borrow, £20,000. Then again, would a UK lender even lend me that amount in the current climate? The purpose of the loan would be for the renovation of a property.
Thanks guys.
Thanks guys.
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No is the probable answer.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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It's incredibly unlikely that any mainstream lender will not have "UK resident" as one of their eligibility criteria.0
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I know, I’ve seen that stipulated so often, I am just looking for a definite answer.SpreadableToast said:It's incredibly unlikely that any mainstream lender will not have "UK resident" as one of their eligibility criteria.
I’ve seen numerous possibilities for U.K. mortgages for British nationals living abroad, but I’m assuming this is more viable because the lender has the property as security.0 -
No. And if you can I'm going to be very cross indeed because we couldn't when we lived overseas and that'd just be very unfair.Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.0
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Smiffy87 said:
I know, I’ve seen that stipulated so often, I am just looking for a definite answer.SpreadableToast said:It's incredibly unlikely that any mainstream lender will not have "UK resident" as one of their eligibility criteria.
I’ve seen numerous possibilities for U.K. mortgages for British nationals living abroad, but I’m assuming this is more viable because the lender has the property as security.
The cost involved for the bank if you default and they take on the property makes it a no go.0 -
Being a non UK resident severely impacts your credit rating irrespective of what you believe the CRA is telling you.0
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