As most of the polls suggested a Remain Vote, it came as a surprise to most people, including the City. The Sterling has dropped 6% this morning (at time of typing article), after the City Whiz kids got their predictions wrong and MP’s from the Remain camp are using words like “challenging times ahead”.
.. and now the vote has been made .. what next for the 67,280 Walsall homeowners especially the 33,748 of those Walsall homeowners with a mortgage?
The Chancellor in the campaign suggested property prices would drop by 18%. Using Treasury estimates, their method of calculating this was tenuous at best, but focused around the abrupt and hasty increase in UK interest rates, which in turn would raise the cost of mortgages, and therefore lower demand for property, causing a drop in property prices.… and I would agree and say, yes .. that will probably happen.