martin lewis on interest rates and brexit

Martin lewis explaining what is likely to happen in relation to interest rates and Brexit

“Mortgage rates are related to interest rates” he explained

“The complicated things about interest rates under Brexit is that we dont know if it will be no deal or a deal”

“As markets dont like a no deal , this meansit will drop.As rates come down the pound will drop.

“If the pound drops the imports get more expensive, means inflation goes up, and interest rates go up”

“If we get a deal things are more likely to be smoother

“However he said “it is a long wayof saying i dont know”

“As we know we dont know, we need to look at the current situation,which is mortgages at an all time low.

“You wont save that much on waiting but there is a risk of them going up.

“If you are looking to get a mortgage now, rates are cheap now- it is a good time to get a mortgage