Briexit what does this mean for us

Thrugelmir

banks4u wrote: »

Well I work for a big US bank and apparently they said if UK exit then they will move head office from here.

Talk is cheap. Action is a little more complicated. Big business has a vested interest in the EU existing.

MortgageMamma

I'd advise you all to keep calm and carry on.


During the last financial crisis buyer and seller uncertainty, together with lenders having the rug pulled from under their feet created a very difficult situation for everyone concerned. The country recovered and it will again if it comes to that.


If you want to minimise the risk of losing money at the outset of a transaction consider lenders offering free valuations that will allow you to add the arrangement fee to the loan. You can insure your conveyancing transactions in case of a failed purchase, look into that. But whatever you do be mindful that the media in this country is largely controlled and will be having a field day with the doom mongering. It was the media that caused all the panic during the last financial crisis. The media are a very useful tool in controlling a population.


All will be well.


MM

Don't let the media hysteria stop you achieving your ambitions in terms of property. The economy is one big boom bust cycle, we will all live through multiple booms and busts.

stator

Keep paying your mortgage until it's paid off.

retepetsir

BoE have stated that they may drop the base rate to 0.2% by the end of the year, to counteract inflation.

brit1234

retepetsir wrote: »

BoE have stated that they may drop the base rate to 0.2% by the end of the year, to counteract inflation.

Lowering interest rates will increase inflation not decrease it. Oil is bought in $ not £ so that will see higher inflation on petrol and transport costs. Food imported from outside UK will also shoot up in price.

Just keep saving as fast as you can whilst house prices fall. They were falling before Brexit, Brexit will just increase those property price falls.