Here are the latest updates from Barclays. These products are available via our direct to lender mortgage club which offers you payment on completion and a lot more besides!
Changes to mortgage lending policy for EU, EEA and Swiss citizens
Following the end of the EU transition period on 31 December 2020, all EU, EEA and Swiss citizens must now apply to the EU Settlement Scheme (EUSS) to continue living and working in the UK. Successful applicants will either be granted Settled or Pre-settled status depending on how long they’ve lived in the UK.
As a result of this change from Friday 5th February 2021
- EU, EEA or Swiss national applicants (excluding Irish (ROI) nationals) applying for new borrowing will be asked to evidence their rights to reside and work in the UK
- Residential: Applicants that are unable to evidence their rights to reside may still be considered for a residential mortgage but will be subject to additional criteria
- Buy to Let:: Applicants without Permanent rights to reside (Settled status) are not currently eligible for a Barclays Buy to let mortgage.
Evidencing Settled Status or Pre-Settled Status for EU, EEA and Swiss citizens
The applicant should be directed to the UK government site where they can obtain a share code.This code is valid for 30 days and will need to be provided to our underwriter team for review, either by entering in the ‘Essential Information’ field within the application, or by providing this information, together with the requisite packaging documentation, when you upload this to the case.
Please be advised these changes will only impact applications submitted from Friday 5th February.