Today Will things really improve for first time home buyers after the exit

 

Will things really improve for first time home buyers after the exit

Whichever side of the Brexit line you are on you cannot get away from the exit. But how will the property market act once Brexit goes through? This is what we know and what we think might happen stop

 

How will house prices react to a no-deal Brexit?

While many of the general public and MPs are massively against a no-deal Brexit, it remains the position that is the default if no agreement is reached between the EU and UK. Accountancy firm KPMG has let some predictions out and say the house prices could fall 6% if there is a no-deal Brexit.

The worst-case scenario, according to pundits, is a 20% drop. The Bank of England previously predicted that could be a 30% fall in house prices, but most pundits now don’t see this happening stop

A dip in house prices isn’t great for homeowners, but it does provide first-time buyers with some opportunity to haggle over the pricing of their dream home. They could, therefore, be renewed confidence in prices and properties could well start moving more quickly leading to prices rising again. First-time buyers and property movers may well find that no-deal Brexit signals an excellent time to buy, with interest rates perhaps falling even further and prices been pushed down by the uncertainty and the changes to the situation.

 

Mortgages and Brexit

There have been fewer mortgages taken with the property market slowing due to, in part, Brexit. Mortgage lenders are working hard to compete for those looking to remortgage and purchase homes, which means there have been quite a few mortgage deals available from a variety of mortgage lenders.

If you are unsure about what to do and how it can affect the property market and interest rates, consider the longer fixed mortgage, where interest rates are very low at the moment. However, before committing to a mortgage arrangement, be sure you understand all the mortgage jargon and terminology so that you don’t get into a bad deal.

 

As a homeowner, it may be time to move

If you’ve been looking at moving home over recent years but have gotten around to it, now may be a good time to start looking. The Southeast and London are likely to be places where prices drop the most, and so if you are in those areas, which are affluent and expensive, you may be able to pick up a bargain whatever happens with the exit from now on. Take a look around.

 

House buying after the exit

The Bank of England and the government for putting in various financial measures to ensure that the Brexit doesn’t cause a recession. The pound and the housing market has certainly taken a hit due to the uncertainty that’s not all bad news.

 

There are different theories as to what will happen to the housing market and most agree that the uncertainty creates some downward pressure in this means it would be a good time to buy after the exit.

The government and the Bank of England can’t afford to see the economy slow down too much and so it looks like now and often works it will be a great time to buy houses but not so great for homeowners who are looking to maximise the value of the properties. Low-interest rates and low house prices are going to be fantastic for first-time buyers.

 

Will things really improve for first time home buyers after the exit is a feature post  – you might also like my post on understanding finance for first time home buyers