Brexit's effect on EU National applicants within the lettings market
24 Apr 2017
by Tatum Greig
We can clearly see here at Paramount Lettings that the rental market takes a dip every time there is a new headline concerning Brexit when involving EU nationals domicile status within GB. This, of course, we understand as who would want to sign a contract when there is no certainty of where they will legally be able to reside in the future.
Since the snap election was called by Theresa May, there has been a definite increase in applicants registering to rent and applicants are less hesitant when proposing an offer.
Out comes Sir Keir Starmer's speech this morning promising that Labour would guarantee rights for EU nationals residing here post-Brexit, providing a glimmer of hope for all unsettled EU Nationals.
I have spent the last month trawling the internet for an answer about domicile statuses; I’ve spoken to many foreign friends who are worried about where spring 2019’s deadline will leave them and no one seemed to have even the slightest bit of certainty of a reasonable outcome.
This month, the home office has even begun to deter foreign nationals from registering to be a UK citizen, instead advising them to sign up for email alerts detailing if and when they need to worry about their residency.
Now, if 2017 has taught us anything, we know that it is impossible to realistically predict what the results of any election will be (hello Trump!). We cannot even reasonably rule out that there won’t be another referendum (although highly unlikely). Each party is promising significant reforms and while everything seems so up in the air, there does now seem to be a little more clarity to non-UK residents with regards to the certainty of their future here.
Of course, everything is still subject to change, however, at least there seem to be some promises made that might settle EU nationals fears and allow them to feel more secure in renting within the British market. Roll on the 8th June!