shimself
Member of DD Central
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Post by shimself on Jan 16, 2014 14:54:40 GMT
any sign of ratesetter taking on expats?
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Post by westonkevRS on Jan 16, 2014 19:51:01 GMT
As a lender or Borrower? The answer to both is no. We only lend to UK residents and for lenders the rules are clear: - a UK resident and registered with HMRC for tax, - have a UK bank account, and - be at least 18 years of age.
There are no plans to challenge these restrictions. I'm no legal expert bit I understand this isn't just a matter of company choice but linked to legal and regulatory complexity. Please don't ask me to be specific, it isn't my bag and I simply don't know the detail!
Sorry.
Kevin. |
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shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
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Post by shimself on Jan 16, 2014 23:03:13 GMT
As a lender .... (snipped bits out) The answer to both is no. ...for lenders the rules are clear: - a UK resident and registered with HMRC for tax, ........
.....
Sorry.
Kevin. As a lender, sorry I'm a lender with lots of people who are on this forum, so it's not for regulatory reasons (I am in the EU), and it seems that identity checks are easy now across borders one of your competitors told me. Do us a favour and ask RS to think again, thanks Steve
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Post by captainconfident on Jan 17, 2014 0:11:16 GMT
With you completely on this, Steve. A single market in financial services is one of the aims of the EU, and Britain of all countries, the British Government of all governments, should be pushing hardest for this as we have the companies who would benefit most, and dominate a pan-European market in financial services. However the government, a Conservative Government, has got blown so wildly off course that it is failing to act in the interests of British companies and the British economy.
I am not making a party political point here - the British economy has been decades reshaping itself as a service providing economy, only to have the political will needed to internationalise our specialist trade desert the very people who would have come into politics believing this to be their mission.
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Post by captainconfident on Jan 17, 2014 0:34:06 GMT
I should declare an interest here, an ex-pat in the EU with enough residual UK connection to pass UK money laundering checks.
Case in point, companies complaining that 'the banks arn't lending'. With the eurozone 0.25% interest rate, there is an epic amount of investment money looking for a home, and with opportunities outside traditional banks here in GerFraBelNed stock market or nothing, people here would kill you in the rush to get a return above 2%. The Estonians Isitpankur? is about the only option, because they are not so 'little england' about funds coming from other countries. But the fact that it is Estonia tells you how underdeveloped the financial systems of main EU countries are. Not something the UK can help in?
FC's decision to launch in the American market, where they face competition from established US companies, ignoring the poverty of opportunity for citizens in capital cities closer to them than Manchester, is an example of what has gone wrong.
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