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22 Feb 2021

EU Changes – The Impact on Mortgage Applications

On the 31st December 2020 at 11pm, the United Kingdom completed its separation from the European Union. A transition that spanned four and a half years, divided the nation in opinion and consumed our news feeds.

Now we are firmly out of Europe the work has begun on what it means for trade and industry. Prior to Brexit, mortgage lenders would accept mortgage applications from other EU nations, as we were all EU Citizens. We are now seeing a slight shift with lenders announcing their new post-Brexit criteria when assessing mortgage applications from EU citizens.

EU/EEA citizens now fall into one of two categories, living in the UK under the EU Settlement Scheme or by way of a Visa such as the Skilled Worker Visa.

EU Settlement Scheme

According to the Gov.UK, EU, EEA or Swiss citizens can apply to the EU Settlement Scheme to remain in the UK after the 30th June 2021. If successful either settled or pre-settled status will be issued.

Although not as simple as this, Settled status is issued if you have lived in the UK for a period of 5 years or more whereas Pre-Settled status is given if you started living in the UK prior to 31st Dec 2020 but not for a 5 year period.

Skilled Worker Visa

For any EU citizens not falling under the EU settlement Scheme, a VISA will need to be applied for, although not required for Irish Citizens. These visas can last up to 5 years before requiring an extension.

Not all lenders have adopted a change as yet, largely due to the EU Settlement Scheme effectively offering similar residency rights before COVID, but with the requirement of VISA’s lenders will need to be able to assess the status of an applicant for mortgage purposes.

EU applicants looking to secure a mortgage will need to provide evidence of their status which can either be provided by using their confirmation paperwork or better still by providing a unique code issued on the Government’s website View and prove your immigration status - GOV.UK (

For any advice or help you need, please get in touch with our team.

EU Changes – The Impact on Mortgage Applications

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