"While Brexit appears to be discouraging European workers from coming to the UK, we are seeing a surge in international professionals looking to live and work here."
Figures from Housing Hand show that there has been a 67% year-on-year rise in the number of international professionals applying for a UK guarantor service, with 62% originating from Europe, 7% China and 5% America. The majority of international professionals are settling and working in London (25%), followed by Birmingham (5%) and the remainder are spread across all major UK cities.
Housing Hand has also seen applications from UK working professionals increasing by over 72% year on year. Zero hour contracts, self-employed individuals without three years audited accounts, or previous poor credit history can all lead to a failed reference check. These can be complicated cases, but where possible, Housing Hand will stand as their guarantor, allowing letting agents to rent to a wider pool of UK and international tenants.
However, the latest stats on European workers seeking employment in the UK reveals there has been a sharp decline (114%) since the Brexit referendum in 2016. Searches made by EU citizens for management roles in the UK has also dropped by 24.8% since June 2016, more than any other occupation.
Jeremy Robinson, Managing Director of Housing Hand, commented: “While Brexit appears to be discouraging European workers from coming to the UK, we are seeing a surge in international professionals looking to live and work here.
“According to recent estimates from the Identity and Passport Services, lower numbers of international students are departing the UK than those that have arrived. The data since 2012 has consistently showed approximately 40,000 to 50,000 non-EU former students departing, significantly fewer than the 110,000 to 140,000 estimated to be arriving during this period.
“International professionals contact us soon after arriving in the UK, as many don’t have a UK credit rating and have failed reference checks when they have applied for rental accommodation. Most of these professionals have studied in the UK and are returning either on secure job offers or are seeking employment. They are certainly not deterred by all the rhetoric around Brexit and immigration.”
