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Edwin Miles. Underwriting Manager

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Recently moved back to the UK - Can i get car finance?

I have an Experian credit score of 955, am 39 years old and am a UK citizen. However, I have been living abroad and just returned to UK 9 months ago. Due to a short credit history the average age of credit accounts is low. I am looking to borrow £6000 for a car loan and to build my credit score. I am self-employed with a monthly income of £8000. Does the low average age of account affect the chances of approval, even though the score itself is good? Thanks

Posted by KL on


Hi Kien, how long were you away for as the amount of time you've been back in the UK may cause a few issues? When you were living abroad did you maintain any credit history in the UK? You seem to have a good credit score and a great income so this obviously helps. Would you have a deposit and are you on the electoral register at your current address? Kind Regards, Edwin

Posted by on

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Hi Edwin, I was away for 14.5 years in Australia and china 1997-2012. No credit history whilst out of uk (bank accounts closed, no bills). I'm on the electoral roll at recent address. Willing to put down £6k as 50% of the purchase price of the car.

Posted by Kl on


Hi KL, i know this sounds mad as you have such a large deposit but without at least 12-24 months credit history in the UK you'll struggle to get any form of car finance. You just need to get a small credit card from your bank and a contract mobile phone to build up your credit score. I'm sorry but we wouldn't be able to get you approved. KR, Edwin

Posted by on


Hi - I'm moving back to the UK from Australia having lived there for two years. I have a property in the UK which I rent out. I will be starting a job in January, but will have no UK payslips (i.e. proof of income).I'm after finance of approx £6k, with £6k deposit. What are my chances?

Posted by Will O on


Hi Will, so while you have been in Australia have you maintained any active credit history in the UK? Do you have a mortgage on the house you rent out? We may be able to get you approved as you have such a big deposit but lenders look for traceability. Are you on the electoral roll at any address in the UK? Regards, Edwin

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