Borrowing for immigration againast equity
#1
Borrowing for immigration against equity
Hi.
We have just been told by both the Abbey and Direct Line that they would NOT be willing to provide us with a short-term loan to cover our larger immigration costs, until we sell our house. Bah humbug!
I asked the Abbey if we could borrow temporarily against the large amount of equity in our house and they told me that the underwriters wouldn't be happy with the idea of lending to someone who is emmigrating.
Has anyone else been in a similar situation and if so, how did they get around it?
Cheers.
We have just been told by both the Abbey and Direct Line that they would NOT be willing to provide us with a short-term loan to cover our larger immigration costs, until we sell our house. Bah humbug!
I asked the Abbey if we could borrow temporarily against the large amount of equity in our house and they told me that the underwriters wouldn't be happy with the idea of lending to someone who is emmigrating.
Has anyone else been in a similar situation and if so, how did they get around it?
Cheers.
Last edited by DunRoaminTheUK; Jan 6th 2006 at 10:46 am.
#2
Joined: May 2005
Posts: 2,873
Re: Borrowing for immigration againast equity
Originally Posted by DunRoaminTheUK
Hi.
We have just been told by both the Abbey and Direct Line that they would NOT be willing to provide us with a short-term loan to cover our larger immigration costs, until we sell our house. Bah humbug!
I asked the Abbey if we could borrow temporarily against the large amount of equity in our house and they told me that the underwriters wouldn't be happy with the idea of lending to someone who is emmigrating.
Has anyone else been in a similar situation and if so, how did they get around it?
Cheers.
We have just been told by both the Abbey and Direct Line that they would NOT be willing to provide us with a short-term loan to cover our larger immigration costs, until we sell our house. Bah humbug!
I asked the Abbey if we could borrow temporarily against the large amount of equity in our house and they told me that the underwriters wouldn't be happy with the idea of lending to someone who is emmigrating.
Has anyone else been in a similar situation and if so, how did they get around it?
Cheers.
#3
Re: Borrowing for immigration against equity
Originally Posted by Anne4Terry
We just said that we wanted to amalgamate all our credit cards and that we wanted to buy a new car
#4
Joined: Jan 2006
Posts: 3,376
Re: Borrowing for immigration againast equity
I personally believe that not many people with loans ACTUALLY tell the truth when they obtain them!
I never have and I've had a few over the years!
So long as they get their money, they're happy.
I never have and I've had a few over the years!
So long as they get their money, they're happy.
#5
Re: Borrowing for immigration againast equity
Originally Posted by FluffyTheCampfireSlayer
I personally believe that not many people with loans ACTUALLY tell the truth when they obtain them!
I never have and I've had a few over the years!
So long as they get their money, they're happy.
I never have and I've had a few over the years!
So long as they get their money, they're happy.
#6
Re: Borrowing for immigration against equity
Originally Posted by DunRoaminTheUK
Hi.
We have just been told by both the Abbey and Direct Line that they would NOT be willing to provide us with a short-term loan to cover our larger immigration costs, until we sell our house. Bah humbug!
I asked the Abbey if we could borrow temporarily against the large amount of equity in our house and they told me that the underwriters wouldn't be happy with the idea of lending to someone who is emmigrating.
Has anyone else been in a similar situation and if so, how did they get around it?
Cheers.
We have just been told by both the Abbey and Direct Line that they would NOT be willing to provide us with a short-term loan to cover our larger immigration costs, until we sell our house. Bah humbug!
I asked the Abbey if we could borrow temporarily against the large amount of equity in our house and they told me that the underwriters wouldn't be happy with the idea of lending to someone who is emmigrating.
Has anyone else been in a similar situation and if so, how did they get around it?
Cheers.
Remortgaging with another company could hold the aswer for you.
This thread may also give you a different angle on it or some ideas.....
http://britishexpats.com/forum/showthread.php?t=280955&highlight=bix+remortgage
#7
BE Forum Addict
Joined: Dec 2003
Location: Adelaide - South Australia
Posts: 1,820
Re: Borrowing for immigration againast equity
What is ridiculous is that a bank or lending institution will lend you money to blow on a holiday or car etc - but if you tell them you want to borrow it to say invest in the stock market they'll tell you to go away!
Oh yeah - and in reply to original statement....
Oh yeah - and in reply to original statement....