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EU Referendum & Mortgage Application
evansc1
Posts: 131 Forumite
So, the EU Referendum is looming over us and the remain campaign seems to look like the probable winner (if Bet Fair exchange is anything to go by - usually spot on) currently.
Question is - should the leave campaign run out eventual winners, what is the general consensus of how lenders will treat new mortgage applications? I have an appointment for 27th June in branch to go through and sort out my full application as a FTB. Would take 2 years or so to complete the EU leave process so would assume any change to lenders' risk appetite wouldn't be instantaneous..
I know there has been a bit of talk that house prices may fall in the short term should Brexit happen, but what about the banks? Are they likely to become more stringent (more so than they already are) over the applications, or is it unlikely to affect the general mortgage lending market form the lenders side of things?
I'm not massively worried as I'm pretty confident remain will succeed, just interesting to know what everyone thinks would happen to the market if we did vote to leave.
Question is - should the leave campaign run out eventual winners, what is the general consensus of how lenders will treat new mortgage applications? I have an appointment for 27th June in branch to go through and sort out my full application as a FTB. Would take 2 years or so to complete the EU leave process so would assume any change to lenders' risk appetite wouldn't be instantaneous..
I know there has been a bit of talk that house prices may fall in the short term should Brexit happen, but what about the banks? Are they likely to become more stringent (more so than they already are) over the applications, or is it unlikely to affect the general mortgage lending market form the lenders side of things?
I'm not massively worried as I'm pretty confident remain will succeed, just interesting to know what everyone thinks would happen to the market if we did vote to leave.
Mortgage - £124,903 Sept 2016-Jan 2017 OP target £1,750/[STRIKE]£1,550[/STRIKE]
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Comments
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No changes whatsoever will take place in the next week in policy terms.
There may be the odd rate change, but I think the market largely reflects either outcome in the short term.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
No lenders have hinted at changes publically regardless of the outcome as far as I am aware.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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