Keeping credit in uk & building credit abroad

[Tomjames]

Oh just close the thread. Nobody knows anything anyway. Wasting my time.

[L00b]

Is buying property eventually feasible?

Of course.

 

After 2 years of living and working in Dublin, so 2 years of building a banking history (with no credit whatsoever), in 2006 my Irish bank was falling over itself to try and tempt me with a 120% interest-only mortgage. For half a million €, give or take. At a -single- salary multiple getting uncomfortably close to double digits.

 

I <removed> you not.

 

I told them (to their face, and in the presence of a senior partner of my firm who was all ready and willing to 'sponsor' my potential mortgage application ) that they needed to change their meds at the time

 

Needless to say, they were not impressed

Edited June 19, 2016 by nikki-red

[999tigger]

Oh just close the thread. Nobody knows anything anyway. Wasting my time.

 

Well if you are unable to ask the right question or provide the relevant details, then you arent going to get good advice.

[Cyclone]

Oh just close the thread. Nobody knows anything anyway. Wasting my time.

 

You had answers, you didn't like them.

[LeMaquis]

Is buying property eventually feasible?

 

You're questions are too open. Where does abroad mean? Buying property in North Korea would be a lot more difficult than in France, for example.

 

You'd have been better sketching out your plans - where you wanted to go, whether you'd have a job, what kind of financial plans you had re credit and property - than just asking questions so open they're impossible to answer.

[Berberis]

When you move abroad, you will have to build your credit rating, but this will be done over time when you take utilities and other services.

 

To maintain your UK rating you can keep a UK credit card with something on the balance and pay it off with the minimum payment each month.

Edited June 20, 2016 by Berberis

[Cyclone]

A moments thought or google would also answer the question about buying property, obviously people who emigrate are able to buy property, unless restricted by law in the destination of course.

Whether they can get a mortgage or not would depend on which specific country we were talking about and the criteria that the companies use to decide. There's no fundamental barrier though.