Mortgages & Brexit

We are seeing a lot of people concerned with how voting out of the EU will affect Mortgages.

It is difficult to answer that question with any sort of confidence, however in the immeidate aftermath and the days following this is what we have seen:

  • 2 lenders have come out and said Business as usual.
  • 2 lenders have pulled some of their deals.

Personally I think at least one of the 2 who have pulled their deals is purely coincidence. It was a market leading product in the niche market they target that had a soft launch a month ago. I suspect they had limited funds to trial it and those were fully used up.

Bare in mind it will be around 2 years before we come out of Europe if not longer and it will be atleast 3-4 months before there is a new leader of the conservative party whos job it will be to start the ball rolling on existing the EU. So our thoughts are that in the immediate future (ie the remainder of 2016 and potentially 2017) there will be very few changes, lenders still have money to lend and there is still a housing shortage.