Hello,
Finances and banking can sometimes be a headache for many expats, especially when it comes to taking out bank loans.
Is it difficult for an expat to get approved for a bank loan in England?
What are the types of bank loans available for expats (mortgage/bonds; business loans; car loans; personal loans; student loans)?
What are the general conditions for expats to take out bank loans (interest rates; timeframe to repay loans, etc.)?
Which bank in England is the most popular or accessible for expats regarding loans?
Would you normally require the services of an accounts manager at the bank in order to facilitate the process of taking out a loan? Is this service free of charge?
What would happen in the case of an unpaid loan if you have to repatriate back to your home country or move somewhere else?
Are there any other options for loans aside from the bank in England, such as taking out a loan from your bank in your home country, or other types of companies not affiliated with banks, that give out loans?
Thank you for sharing your experience.
Priscilla
Bank loans in England
Hi and a good subject that catches some expats out.
It is difficult for expats to obtain any kind of credit or loans from many UK banks; not because they are expats, but because they have no credit rating.
The UK Government has set up an organisation called the Money Advice Service, it provides information related to:
Advice and guides to help improve your finances
Tools and calculators to help keep track and plan ahead
Support over the phone and online
you can access advice regarding loans and credit from their website; this link will take you there.
Hope this helps.
Cynic
Expat Team
@Priscilla I'm looking for a loan how can we talk
@Priscilla I'm looking for a loan how can we talk
-@Bolda
She won't be able to help. I suggest you go to your bank.
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