Help finding a loan for a friend 9 October 2021 at 12:45PM in Loans 2 replies 251 views

SusieT

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? 

[Deleted User]

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

Deleted_User said:

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