It may be a prudent time to assess both your borrowing and protection needs.
The implications of Brexit will obviously affect our lives from now on. However, today we’re still part of the EU, and that will remain the same for the foreseeable future. What has changed though is market sentiment, along with the political landscape.
After the referendum there was an immediate impact on the UK stock market and the value of the pound (with the former recovering but the currency not, at the time of writing).
It’s also affected the structure of the government, and may have an impact on property prices, yet that doesn’t mean we should avoid the housing market.
More secure climate
Unlike the crash of 2007/8, the economy is in a far better position to adapt to changes, and whilst the Bank of England views the immediate financial future as “challenging”, it has already taken action.
Your route forward
To make sense of all the developments in these changing times, it’s essential that you take professional advice.
And why would you want to put your life on hold anyway, as there’s much you may want to be getting on with, such as:
- Securing a better mortgage deal than your current one.
- Undertaking much needed renovations to your current home.
- Moving to a larger property (or perhaps a smaller one).
- Buying your first home, and taking advantage of the schemes on offer.
- Conversely, you may look at expanding your property portfolio, either through becoming a landlord, or simply want the holiday home you’ve always dreamed of.
Whatever happens (both politically and economically), the sizeable numbers that voted for both the “leave” and “remain” camps should hopefully ensure a measured approach going forward.
If you’d like to hear more about how we could assist with your borrowing needs, along with ways to protect you (and your family) in these uncertain times, then please get in touch.
You may have to pay an early repayment charge to your existing lender if you remortgage.