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Hi Edwin. I moved to the UK in Jan 2011. I have been in full time employment since I arrived. I earn £50k (before bonus), rent a flat and have never missed a direct debit payment since I've lived here. I have a clear balance on my credit card (only 2 months) and a clear balance overdraft (6 months) and have also never missed a payment or exceeded limits.
My credit score is 561 on Experian but I was not registered to vote. I have now done so and will be registered from April 1st. I have looked at car finance but have found nothing below 20% APR. Would you guys have anything better? Loan of £6-8k. Thanks
Hi Dave, firstly welcome to the UK. I hope you're enjoying it so far. Thank you for using our Q&A and from what you've said we should be able to beat the 20% APR you have been offered already.
If you don't mind me asking - which company/lender offered you that rate? Also how long are you planning on staying in the UK? Most lenders like to see 3 years address history before giving out loans but hopefully we can get a lender to help. What gives me a good feeling we'll be able to help is that you have a very good wage and that the credit you do have is clean so far. Also you've just got yourself on the electoral roll.
You have done all the right things and there's nothing more you can do to be honest. It's down to our lenders as to whether they can help which i hope they can. Please make an application and we'll go from there. Kind Regards, Edwin