November 27, 2018
Newspapers are reporting that Brexit’s impact on house prices – especially if there is No Deal – are likely to take centre stage in the next 48 hours.
The London Evening Standard, edited by former Chancellor George Osborne, quotes unnamed senior ministers urging the government to be more ”forthcoming” about what crashing out would mean for the housing market and house prices.
The newspaper quotes one unnamed minister as saying: “We have been less forthcoming then we might have been. Crashing out would be unbelievably difficult for the country … It will become much harder for people to get a mortgage, so it’s bad for those who are on the property ladder and for those who want to get on it. Parliament needs to be aware of what the choices are and what the consequences of those choices would be.”
Other newspapers suggest that the Bank of England and the Treasury will this week release official analyses of how the currently-agreed deal would compare with No Deal.
“The Bank is expected to warn of the risks for home loans in its regular Financial Stability Report on Wednesday” says one newspaper.
Source – EA Today – Click here for Article