Post-Brexit Mortgages For EU Nationals

Generally, if you’re an EU citizen but live permanently in the UK, then you can still apply for a mortgage here. However, since Brexit, some banks have been refusing applications for EU nationals as they’re considered higher risk. 

In this guide you’ll find what you need to know when getting a mortgage as an EU citizen.

Can I get a mortgage as an EU citizen?

In theory, the process for getting a mortgage as an EU national now Brexit’s happened shouldn’t be much different from that of a UK citizen. However, a lot of mortgage lenders are concerned about risk, and need you to have lived in the UK for at least three years before they’ll accept your application. Your chances of getting a mortgage might improve if you’re making a joint application with a British national. 

The reason it’s like this is because lenders want to see a UK credit history so they can judge how well you’ve managed your money in the past. If you don’t have three years of credit history in the UK, there’s things you can do to start building your credit file. 

You’ll have a better chances of being accepted for a mortgage if you meet the following criteria:

• You don’t have any ongoing or previous credit issues.

• You’re employed or on a permanent contract.

• You have a UK bank account and get your salary paid into it.

• Have some sort of active credit account, like a mobile phone contract or credit card.

• Have a decent-sized deposit - around 15% is ideal.

• You’ve been in the UK for at least three months - 12 months if you’re self-employed or have any credit issues.

If you don’t tick these boxes, it’s a good idea to get advice from a specialist mortgage broker who can explain your options and find the right deal for you.

How to get a UK mortgage as an EU citizen

If you’ve lived in the UK for at least three years, have a permanent job and a UK bank account, the mortgage application process will be the same as if you were a UK citizen. You’ll need to pass all the usual lending criteria like the credit check and affordability test. 

Tips for getting accepted for a mortgage as an EU citizen:

Work on your UK credit file

The more positive stuff you can get added to your credit file, the better. The easiest and quickest thing you can do to start rebuilding your credit history is registering on the electoral roll. Make sure you’re registered to vote at your new UK address, and that all your personal information is correct. Paying your household bills on time will also help to build your credit file.

Read out guide: How to improve your credit score.

Apply to a specialist mortgage lender

It’s a mortgage myth that you can only apply for a mortgage with your current bank. The mainstream lenders tend to have stricter lending criteria, and may turn you down. It’s best to look for a specialist mortgage lender, who is more likely to look favourably on your application and offer more bespoke mortgages, often underwritten especially for you and your specific situation. 

Quite often, specialist lenders aren’t the big names you know and sometimes, they’re not available directly to a borrower, they’re only available through specialist mortgage brokers, like us! 

This is because their businesses just aren’t set up the same as the big banks. So they can’t deal with the volume of customers in the same way. But it means they can be more specialised, and offer a more tailored mortgage product for your unique situation. 

Use a specialist mortgage broker

Getting a mortgage when you’re not a British citizen can be difficult. A lot of big banks and high street lenders will refuse you if you don’t fit the typical UK mortgage applicant mould.

Our Mortgage Experts live and breathe the mortgage market, and have helped many people in the same situation to secure a mortgage at the right rate. Our brokers know which lenders are most likely to accept you, and will be able to make your application look as strong as possible.