lcortez

Just a quick question,when moving to Spain,how diff is it to establish a credit rating?I am aware mortgages in Spain are done on affordability,but what about credit cards,bank loans & other forms of unsecured debt?
Is it important to establish a credit score like that in the UK,and if so does anyone know the best way to go about it?
Have tried to look on the internet for answers,but the information available seems very contradictary!
Would greatly appreciate any advice from anyone with exp or knowledge of a similar situation

spain

my bank are writing and phoning me continiously trying to give me a loan, yet I have no income or money going into my account so dont think you will have any problems

when I opened my bank account I got a credit card, debit card and cheque book straightaway

Lenox

Once you get a 'tax number' which is also an ID number you are on the way. The number is a 'NIE' which is a numero de identificación europeo. You can get it easily enough, but best to find a gestoria - a sort of 'catch all, do all paperwork office' to do it for you. Ask for a local one.

lcortez

Thanks for that,already have NIE,got it from Consulate in London.Seems a lot easier to establish yourself in Spain than UK,credit doesnt seem to be as big a deal as it is hereCan only get basic account here as self employed,no credit card,debit card,nada!

pwblackbelt

which bank are you at??

lcortez

Without meaning to appear too nosey,did you open the account with a lge initial deposit,maybe bank offering loans against that,if it is the case.

spain

no I didnt - its Barclays - apparently nothign to do with Barclays UK

lcortez

Thanks,sorry for the question didnt mean to pry into your private business,just relating to my experience of having to establish credit in US where a deposit in the bank can be used as collateral against a loan of the same size,sounds a bit silly I know but is one way of establishing a credit file

spain

no thats fine - I understand what youre saying, think I opened the account with a nominal 100€

Chiclanagir

I did mention this point in another thread regarding the fact that when you go back to the UK for good you will have no credit history and therefore will have difficulty getting a new mortgage.

lcortez

Yes its def a tricky one as the same prob faces you when moving to Spain,or elsewhere,no credit history so diff to get credit to establish a history
However from the nature of the replies,it looks like credit history is not such big deal in Spain,as in UK would not be able to open a fully functioning current accc with credit & debit card etc witout a good credit history

andyrich666

One of the reason's I cant wait to get to spain to start again, Cant do much in the UK no more but at least im not paying nothing out so all my money is mine now

One thing I would like to do as soon as I hit the Costa is Lease or Contract hire a car, Im not sure if it's the Done thing over there but I do see a lot of people with Newish car's so there must be some kind of deal's there. In the UK you deal with a broker but over there I think its only the Manufacturer's that offer Finance for lease, I looked on the Seat site and It was very confusing and looked expensive. I shall endevour to find if brokers exist though

lcortez

Yes life does seem to be getting more and more complicated in UK (&exspensive!)
I take it by contract hire you mean long term,like 3yrs etc,where you do a set
amount of miles a year & have the option to buy or exchange the car at the end of the term.Seems like a good idea,could be a good option for me if reasonably priced.

andyrich666

My problem is coming on a budget I was contract hiring here but dont anymore but here you get choice of terms from 6 months to 5 years and the 6 month deals were great,

The last car I had was a Seat Leon TDi Sport brand new for £200 deposit and £200 a month for 5 months, for nothing brand new car every 6 months for about £7 a day, Didnt even get a full credit check with that company, just ordered it and 5 days it come, before that Nice Saab, now im driving about in a R Plate Mondeo wiating for it to break down !!!

I will be coming to Spain on a Budget, about 15k all in ( was 7k 3 months ago but im working my nut's off to increase this ) So I have no house to sell ect, will be renting and most of my money will be tied up in stock so buying a Car is going to be the biggest purchase and one thing I want to avoid really. I have looked into long term hire with car rental companies and its very expensive so far, I guess maybe when you are there and you can visit some you can haggle with the smaller people.

SueG

We found second hand cars quite expensive when looking around to purchase and then decided not to bother and use buses but obviously this is not ideal for everyone. I have to say though we came out in January and hired a car from Carjet - we kept the car through until about April and were still only charged the winter rates and that was fairly reasonable.