Banks complain EU citizens are no longer a safe bet due to Brexit

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Banks in London are no longer considering EU citizens a “safe bet” as uncertainty grows over their status post-Brexit, it was claimed today. 

The London Assembly, which has investigated the rights of EU nationals, warned that some lenders had “become nervous” and were turning down customers for mortgages or loans.

In a letter to Sadiq Khan, they urged him to use his monthly meetings with Brexit Secretary David Davis to alert him to the risks of financial institutions refusing credit.

They cited experts who gave evidence to the Assembly’s EU Exit Working Group who claimed some EU citizens were also struggling to access private rented housing and employment. 

“Some landlords, banks and employers have become nervous about the longer term status applicants from the EU, and no longer consider them a safe bet,” the letter said. 

The Assembly urged the Mayor to support citizens’ advice agencies to track cases of discrimination against EU citizens so they could build up a fuller picture. 

Around one million EU nationals are living in London and the current network of law centres and citizens advice bureaux offering advice are stretched and lack specialist knowledge.

It comes after a leaked Home Office document yesterday suggested the Government plans to curb migration of EU nationals following Brexit.  

Len Duvall, chair of the Assembly group, said: “Some EU citizens have experienced difficulties in accessing private rented housing, banking and employment. 

“This is the kind of discrimination that stems from confusion – I’m sure it’s not deliberate or malicious – but it needs to stop”.


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