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Accord updates lending policy for EU nationals

Jessica Nangle

February 15, 2021

Accord Mortgages is updating its lending criteria for mortgage applicants from the European Union (EU), European Economic Area (EEA) and Switzerland as a result of the UK’s decision to leave the EU.

Following the end of the Brexit transition period, from Wednesday 17 February any EU, EEA or Swiss nationals (not including Irish nationals) applying for a mortgage with the lender will need to evidence their residency status.

Settled or pre-settled status from the EU settlement scheme will be accepted by Accord, with applicants required to provide their government website share code to evidence their residency status.

The intermediary-only lender has also confirmed there will be no LTV restrictions applied to borrowers with both settled and pre-settled status.

These changes apply to Accord’s residential and buy-to-let criteria.

EU, EEA or Swiss nationals without an EU settlement status can still apply for a mortgage with Accord, and will be considered under the lender’s existing criteria for those without permanent right to reside.

Nicola Alvarez, corporate account manager at Accord Mortgages, said: “We continue to support brokers placing cases for EU, EEA and Swiss nationals, applying our common sense approach to lending.”


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