UK loan for British Citizen living abroad

benbay001
benbay001 Posts: 408 Forumite
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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.
Im A Budding Neil Woodford.

Comments

  • DullGreyGuy
    DullGreyGuy Posts: 10,186 Forumite
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    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
    benbay001 Posts: 408 Forumite
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    Thank you

    I still have a UK address but wont be forgetting.

    I bank with HSBC,do they have a license?
    Im A Budding Neil Woodford.
  • MEM62
    MEM62 Posts: 4,744 Forumite
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     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
    bargainbetty Posts: 3,455 Forumite
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    edited 30 October 2022 at 8:01PM
    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. 
    Some days, it's just not worth chewing through the leather straps....
    LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!



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  • sourcrates
    sourcrates Posts: 28,807 Ambassador
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    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.
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