BREXIT - Concerns following mortgage offer

whatbrettdid

Hi

I am wracked with worry now the majority have voted to leave the EU (Who in their right mind thought it a good idea?!).

I recieved a full mortgage offer this week, for the purchase of my first home. I am concerned now that prices are going to tumble and that I will essentially be taking out a mortgage and almost instantly hitting negative equity.

Part of me feels like pulling out before signing off on the mortgage (I will waste £800 in fees I've already paid) and holding on to my deposit until prices dip and stablise. Would it be harder to secure a mortgage in 6 months compared to now, now we're leaving the EU?

I'd love to hear from anyone else in the same boat. Unnerving times to say the least!

Mortgage_724433

It's a daunting feeling as we're effectively entering the unknown. They'll be quite a lot of 'spiteful' scaremongering over the coming days from those who publicly fought for remain, but as with anything in time things will calm down.

No one can say exactly what will happen in terms of property prices, but the sensible option will be to hold fire on any sudden decisions and see how this coming fortnight pans out.

Easier said than done but try and stay calm, remember it would benefit no one if Great Britain fails.