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Help finding a loan for a friend

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SusieT
SusieT Posts: 1,267 Forumite
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This is a bt of an odd request, but I thought that if it is possible, someone here would be the ones to know of something. 

I have a friend who lives in EU and wants to get a loan. I would have thought it would be simple as he has a good credit rating both in UK and EU, and (in EU) has around 200k equity in the property. The problem is that he is paid in sterling and therefore it is not possible to get a loan in euros due to EU banking laws. 
Since he is a UK tax payer with income from work in UK, does anyone know if it is possible to get a loan in UK, or is it not going to be possible anywhere? 
Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 2036

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Unlikely. Not being resident will be a stumbling block for most lenders as his risk levels are high and collection activity is too difficult.
  • SusieT
    SusieT Posts: 1,267 Forumite
    First Post Name Dropper First Anniversary
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    Unlikely. Not being resident will be a stumbling block for most lenders as his risk levels are high and collection activity is too difficult.
    I think that will be the problem, stupid thing is that he cannot get a loan where he lives as income is from England so trying to collect against it is too difficult from the other side :(

    Credit card debt - NIL
    Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
    Mortgage 64,513/100,000 End Nov 2035
    2022 all rolling into new mortgage + extra to finish house. 125,000 End 2036
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