British Expats - Taking out UK Loan Before Moving to US

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British Expats (https://britishexpats.com/forum/)

- USA (https://britishexpats.com/forum/usa-57/)

- - Taking out UK Loan Before Moving to US (https://britishexpats.com/forum/usa-57/taking-out-uk-loan-before-moving-us-844418/)

sir_eccles

Oct 5th 2014 3:22 pm

Re: Taking out UK Loan Before Moving to US

Quote:

Originally Posted by davejenk477 (Post 11428361)

Thanks for all your comments, I'll give it some thought. I appreciate that sending payments back to the UK could be a pain, but I'm going to have to do so anyway to make my student loan payments.

Look at Xe.com for making transfers. Other forex companies are available.

petitefrancaise

Oct 5th 2014 6:39 pm

Re: Taking out UK Loan Before Moving to US

You can get fixed exchange rates with the forex companies. In France, many people I knew lived in France but worked or got paid in the uk and their best bet was to fix the exchange rate for the next 6 months or year so they knew what they would be living on. I like worldfirst and I think you can set up regular transfers. They don't cost much and the exchange rate is good, much better and faster than the banks.

unique_boy

Oct 6th 2014 5:58 pm

Re: Taking out UK Loan Before Moving to US

Quote:

Originally Posted by davejenk477 (Post 11427322)

I was just thinking about a personal loan. The bank wouldn't know that I was moving away, and as long as they got their payment every month would they ever know or care?

I don't think they would know if it was paid, these days you can get your personal loan in a matter of minutes through online banking. I looked at it myself but the terms of the agreement is that you will be in the UK.

I am not sure of what the consequences would be if they found out.

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