UK loan for British Citizen living abroad 24 October 2022 at 2:13PM in Loans 5 replies 283 views

benbay001

Hi, 

Ive recently moved from the UK to France, but am working in Switzerland.

I need to buy a car over here ASAP but dont have the money readily availble.

Are there any UK banks who will lend to me in my situation?

My French isnt good enough to understand the product i am agreeing to, or to really search for what i am looking for.

My credit rating in the UK is very good.

P.s. i appreciate the currency risk of borrowing GBP when i earn CHF.

Thanks in advance.

DullGreyGuy

Most banks dont have license for lending into the EEA thanks to Brexit... now some who still have UK addresses may "forget" to mention they dont live there any more when applying but that depends what happened to your home when you left. 

benbay001

Thank you

I still have a UK address but wont be forgetting.

I bank with HSBC,do they have a license?

MEM62

DullGreyGuy said:

 now some who still have UK addresses may "forget" to mention they dont live there any more when applying but that depends what happened to your home when you left. 

In those circumstances, how does the OP establish their income?  

OP, as a non-UK resident you are unlikely to be able to borrow from most mainstream UK institutions.  Maybe a work colleague can help you navigate the application locally - if you qualify in your resident country.     

bargainbetty

My brother used to work in banking and said UK banks will rarely lend to a non-resident person, regardless of credit history, unless there is some measure of security in terms of assets in the UK. 

Have you thought about looking into leasing options instead? That might be easier to obtain than a loan if you haven't been resident for very long. 

sourcrates

In your July post you say you have an ISA.

Could you not use some of that money to buy a car, assuming it`s not been spent already.

Moving to France can`t have been cheap, surely if you can afford to do that, you can Russell up a few grand for a car, thus removing the need to borrow.