Loans for people in UK
When applying for loans for people working in the UK, probably every borrower is aware that the bank will send an inquiry to our Credit Information Bureau. It is worth remembering that not only Polish banks but also foreign banks keep your credit history. Credit obligations from a period of stay abroad are significant in Poland.
Since August 2015, due to the BIK agreement with foreign institutions, our credit obligations have been traveling with us. A common database of BIK and foreign institutions helps in obtaining information about the history of customers. As a result, it will be more difficult for people who do not pay back a loan taken out in another country to hide from Polish banks. In turn, loans for people working in the UK and wanting to apply for a loan in Poland have become more available. Foreign banks can confirm your positive credit history. Similarly, people who do not pay off debt abroad will find it more difficult to get a loan in Poland.
It could have been expected that globalization and advanced computer technology would eventually contribute to the spread of international “intelligence”. A few years back, loans for people working in the UK or returning from emigration were difficult to get in Poland. People without a credit history in Poland were a “blank card” for banks without any credit history.
People who live in a foreign country have problems obtaining a satisfactory credit in Poland. The problem arises when our entire credit history is based solely on commitments made in another country and we have income from another country.
Who benefited from the credit history exchange?
It is easier for Poles to get a loan both abroad and in Poland. In addition, banks can better protect themselves against customers who do not pay back loans. BIK is currently cooperating with German credit bureau, British Equifax and Italian CRIF, and if we know that we have built a positive credit history while staying in these countries, we can use it when applying for, for example, an investment loan in Poland.
When applying for a loan by a foreigner or a person who lives outside the country, the analyst may ask for a credit report from another country. There are two ways to apply for a foreign report. The first way is phone contact, while the second way is to download history online.