Some lenders accepting EU borrowers with 'Pre-Settled status' for mortgage applications

by Aaron Strutt

Jul 10 2021

Some lenders are happier than others to accept borrowers with pre-settled status when they apply for a mortgage.

Accord Mortgages was one of the first lenders to update its acceptance criteria for mortgage applicants from the European Union, European Economic Area, and Switzerland due to the UK's decision to leave the EU. 

Accord's policy states that Settled or Pre-Settled status from the EU settlement scheme is likely to be accepted, with applicants required to provide their Government website share code as evidence of their residency status. 

Halifax for Intermediesas is another lender with more favourable lending policies for those with Pre-Settled status. The bank mortgage policy says that permanent right to reside can include: 

• Settled status is awarded when someone from the EU has lived in the UK for at least five years. It is also known as 'indefinite leave to remain under the EU Settlement Scheme'.
• Pre-settled status is awarded where someone from the EU has lived in the UK for less than five years, and they can re-apply for settled status after five years of continuous residence in the UK has been reached.

Aaron Strutt, product director at Trinity Financial, says: "Some borrowers have found it harder to secure mortgages since leaving the EU, especially when they have called their bank or building society. Our specialists are available to assess the market and confirm how much you can borrow and the best rates."

Call Trinity Financial on 020 7016 0790 to secure a Settled or Pre-Settled status mortgage or book a consultation