Loans without 3 year UK address history?

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  • yksi
    yksi Posts: 1,024 Forumite
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    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
    Thrugelmir Posts: 89,546 Forumite
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    WBlauvac wrote: »
    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...

    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.
  • EssexHebridean
    EssexHebridean Posts: 21,431 Forumite
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    yksi wrote: »
    I'm also a dual citizen and got a £2,000 loan after one year, at 20%, and I am not a high earner.

    It's the fact that you seem to feel that this is a good thing, that concerns me. 20% - ouch. :(
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00
    Balance as at 31/12/23 = £112,000.00
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