Loans without 3 year UK address history?

chloepom
chloepom Posts: 3 Newbie
edited 14 January 2019 at 1:03PM in Loans
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?
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  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    chloepom wrote: »
    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 small loan (£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?

    My credit score is higher than average, I have lived in the same rental property since I moved here, I'm on the electoral role... I'm not sure what else I can do to be given a chance!!


    Well luckily your score is only seen by you, lenders see your history.
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    I think you'll find that all reputable lenders will expect more than 1.5 years residence before granting a loan. I had the same problem when I moved to the USA, but in the end was helped out by a friendly and trusting bank manager. Have you tried your UK bank? Actually going in and talking to someone rather than applying on line?
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • chloepom
    chloepom Posts: 3 Newbie
    Interest rates through my bank are pretty high but I think it might be my only option, thanks!
  • Nasqueron
    Nasqueron Posts: 8,807 Forumite
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    Maybe get quotes for car finance, they tend to be a bit more willing to loan money than a bank as they can simply take away the car from you if you stop paying
  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,909 Forumite
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    chloepom wrote: »
    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 small loan (£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?

    My credit score is higher than average, I have lived in the same rental property since I moved here, I'm on the electoral role... I'm not sure what else I can do to be given a chance!!

    A loan of £4/5k is NOT a small loan.

    When you have diddly squat, it's a massive amount.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • chloepom
    chloepom Posts: 3 Newbie
    poppasmurf_bewdley wrote: »
    A loan of £4/5k is NOT a small loan.

    When you have diddly squat, it's a massive amount.

    Fair enough... compared to friends of mine who have had loans or finance around £10000 I consider it a small amount but thanks for your opinion??
  • gurtsn
    gurtsn Posts: 2 Newbie
    Hi there
    I am in a same situation, 10 months residency in the UK.
    Did you manage to access a loan yet?
    I found few companies that will grant a loan for bad score and without 3 years address history.
    But with a tiny 49%APR.
    I am with NATWEST, going and talking face to face with them would help?
    Cheers.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    The OP is unlikely to return at this stage.

    You won't get a low rate loan if you have poor or little history. You local branch can't override the risk rating.

    Best plan is to save for what you need, or look for other alternatives.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    edited 10 September 2019 at 5:53PM
    gurtsn wrote: »
    Hi there
    I am in a same situation, 10 months residency in the UK.
    Did you manage to access a loan yet?
    I found few companies that will grant a loan for bad score and without 3 years address history.
    But with a tiny 49%APR.
    I am with NATWEST, going and talking face to face with them would help?
    Cheers.


    Chloe wont be coming back.
    What is it you need the finance for ?


    I agree with ZX81 and save up what you need.
  • gurtsn
    gurtsn Posts: 2 Newbie
    Need a bigger, more spacious transport for my street food business. Dont want to use all savings and not to have backup.
    But seems like saving for it would be the only wise choice with this rates.
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