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Edwin Miles. Underwriting Manager

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Car Finance - 1 year in the UK

I moved to the UK a bit more than a year ago. When I moved, I was working as a free-lance between UK and Italy. 3 months ago I signed a good contract as employee in a company in Manchester.

My credit history is clean. They refuse to give me a finance plan for a car as I have been in the UK for too little. Are they saying the truth? Is there a way I could obtain a finance? Thank you

Posted by Anna on

Answer.

Hi Anna, if i'm honest it may be a struggle to get you car finance if you've only been in the UK for 12 months.

The reason is that most UK lenders (and the ones we work with) need to see 3 years address history before they will lend anyone any funds. I'm sorry that we couldn't help on this occasion. Kind Regards, Edwin

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Question.

Hello,I'm about to move to the UK (I'm a EU national) to work as a medical consultant for the NHS, in a permanent and substantive position. Obviously I have no credit history in the UK but I will be earning 75,000 pounds during 2012 (and I have this in writing).Would I be able to get car finance under these conditions? Thanks.

Posted by Josh on

Answer.

Hi Josh, how long are you planning on staying in the UK? We'll find it very difficult to get you approved unless you're on the electoral roll at your UK residence and you have a UK drivers licence. Do you have a UK bank account yet? Thanks Edwin

Posted by on

Question.

Edwin, thanks for your reply. I don't have a bank account yet but I'm supposed to get one next month through my hospital HR dpt. I will also register at the electoral roll as soon as I have a permanent address. I start working in January and i'm in the process of moving there. I plan to stay in the UK indefinitely, and my job position is permanent, not temporary. From what I've read it might be a good idea to get a used car and go for the new one after I've been in the UK for a year. Thanks.

Posted by Josh on

Answer.

No problem Josh. Yes - i'd go for a used car for now and once you're settled apply for finance on a new car. Edwin

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