Lenders change their foreign national policy
Lenders are making changes to their residential and buy-to-let lending policy for foreign nationals following the introduction of the EU Settlement Scheme.
Who is affected?
Customers who are EU (excluding Republic of Ireland), EEA and Swiss citizens.
What will you need to do?
If you fall into one of the groups mentioned above you will need to evidence your permanent right to reside in the UK or your Settled/Pre-Settled status.
When beginning an application, you will simply need to provide your Share Code and once the lender has validated the code they will consider the application in the same way they do for British Nationals and those with indefinite leave to remain.
If you are unable to evidence your permanent right to reside in the UK, lenders will be unable to consider your mortgage application.
If you are considering a mortgage application and are affected by these changes don’t hesitate to get in touch with our team who can provide any details you need and support you throughout the process.