Brexit Referendum

So the outcome was to leave the European Union. So where does this leave us on the mortgage and protection front. Well, business as usual I think. The housing market in reference to new properties being built is still considerably below what it needs to keep up with demand. Therefore supply and demand is driving the housing market and the financial markets circumstances today are very different to 2007/8. The only negative thing I can see is the London property high end value properties maybe having a correction as some investors either hold off or withdraw from the London market. Due to a stagnant 2 months many lenders have reduced their rates over the last week to stimulate activity and encourage people to borrow. The Bank of England is likely to keep the base rate at its current level for some time now to help the economy, lenders and investors alike. With the possibility of higher inflation I cannot see them reducing the base rate as although the market is pretty stagnant the economy is not doing too badly and before long I think some confidence and optimism will return.