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    • chloepom
    • By chloepom 12th Jan 19, 2:23 PM
    • 3Posts
    • 1Thanks
    Loans without 3 year UK address history?
    • #1
    • 12th Jan 19, 2:23 PM
    Loans without 3 year UK address history? 12th Jan 19 at 2:23 PM
    I am a dual Aussie and British citizen and have lived in the UK for the last 1.5 years. I'm now looking at getting a loan of about £4000-£5000 for a car but it looks like you need at least 3 years of UK address history to be eligible? Does anyone know of any lenders that are a little more lenient with this?
    Last edited by chloepom; 14-01-2019 at 12:03 PM. Reason: typo
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    • WBlauvac
    • By WBlauvac 4th Dec 19, 1:11 PM
    • 4 Posts
    • 1 Thanks
    Now that's good to know! The people talked to so far (on the phone) were pretty much telling that it would be tough so I didn't even bother - I'll look for a branch appointment then.

    Thanks for sharing you story (which initially look pretty much like my situation - i.e. only a year or so of history and credit needs).
    • yksi
    • By yksi 4th Dec 19, 5:20 PM
    • 205 Posts
    • 342 Thanks
    I'm also a dual citizen and got a £2,000 loan after one year, at 20%, and I am not a high earner.
    • Thrugelmir
    • By Thrugelmir 4th Dec 19, 8:42 PM
    • 66,361 Posts
    • 58,413 Thanks
    It really just feels like UK retail banks are too lazy to conduct any kind of background check / Due Diligence on their customers and just rely on credit rating agencies...
    Originally posted by WBlauvac
    A system that works. Credit history (of sufficient length) and other checks performed at the point of the application provide adequate information to underwrite the risk. Not sure what else you believe could be supplied that is of any value to the lender. As unfortunately people themselves cannot be relied upon to be totally truthfull.
    “Risk comes from not knowing what you are doing. – Warren Buffett”
    • EssexHebridean
    • By EssexHebridean 5th Dec 19, 3:10 PM
    • 9,896 Posts
    • 50,325 Thanks
    I'm also a dual citizen and got a £2,000 loan after one year, at 20%, and I am not a high earner.
    Originally posted by yksi
    It's the fact that you seem to feel that this is a good thing, that concerns me. 20% - ouch.
    MORTGAGE FREE 30/09/2016
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