Moving to the U.K is a massive step for anyone.
A lot of time and hard work goes into pre-planning the move. Finances need to be in order, transport needs to be arranged. Do you fly over with all of your belongings? Should you fly by yourself and have your belongings posted over? Do you travel by coach – surely a cheaper option, but moving a life’s worth of belongings can seem like an insurmountable task? Accommodation will need to be organised – should you get your own place? Should you house share? Rent? Buy? The list of factors goes on, and on. But, after all of this, you’ll hopefully find yourself settled with somewhere to live and plenty of things to be cracking on with.
However, moving to another country will never be a cheap event. Even those with the strongest sense of financial security may find themselves struggling to find enough money to cover all of the expenses. Accommodation may need furnishing, you might need to buy a car or pay for travel costs for your new job. The list of expenses is as long as the list of things you needed to get organised before your move and may at first seem daunting. Luckily, there are plenty of ways to access finance if you are an immigrant in the U.K, and it is not difficult to find a quick online loan in the U.K from pozyczkiwuk.eu. Loans aren’t a magic fix, but if you’re sensible with your money they can offer short-term help for those big one off expenses.
Build Up A Good Credit Score
Before you can access loans, you’ll need to have some credit history. Credit (unfortunately) does not transfer between countries, so any credit history you have at your home country cannot be used/accessed by banks in the U.K. There’s a couple of quick, easy ways to build credit. Registering on the electoral roll is the fastest and simplest method of building credit. E.U. citizens in the U.K. are eligible, and you can register by post or by online. By being on the electoral roll, companies can confirm your personal details such as full name and address meaning that getting a quick online loan in the U.K. will be possible.
You can also open a U.K. bank account. Once this account is open, and if your bank offers an interest free overdraft, the Money Advice Service suggests using a small amount of the overdraft. By using small lumps of credit at a time, paying it back in time and in full, you’ll be able to build your credit score quickly. By building your credit score, you’ll be able to access a quick online loan in the U.K.
Maintain It – This Is Important!
If you’re building up a good credit score, you’ll also need to maintain it. Manage the payments of your household utility bills such as water, gas and electricity to ensure that your credit rating doesn’t fall. Setting up direct debits is the most convenient method to ensuring all payments are made on time. Set up your mobile phone to be paid by direct debit to further boost your credit history. Regular, on time payments will look favourably on your credit history as it shows loan companies that you are reliable with repayments.
Bad Credit?
If your credit score falters too much, you’ll find that many lenders won’t offer loans to you. Being rejected from too many lenders too often will also leave your credit score in an undesirable position. If you find that your credit score is too low, Moneysavingexpert.com suggests using a credit building credit card. These offer credit to those with a poor credit history, but they have very high interest so you will pay back a lot more than you borrowed. Accessing a quick online loan in the U.K. shouldn’t be too difficult if you keep on top of your credit history. Most lenders will give non-U.K. citizens equal footing to U.K. citizens when it comes to applying for loans.
Moving to a new country can be an incredibly daunting and costly experience from beginning to end. Before your move, take the the time to work out all of your outgoings. Save as much as possible whether that’s through your choices of transport, how you’ll move your belongings to your new home, or what kind of accommodation you choose. Naturally it can be hard to be on top of your finances during such a tumultuous time so for some, getting a quick online loan in the U.K. can be a good decision to make. By building credit, you should be able to access loans within a relatively short amount of time.
