Home loan hit on the cards as Brexit worries mount

13th July 2016

Lenders are braced for falling demand for mortgage loans following the Brexit vote amid fears over economic uncertainty, the Bank of England said today. Its latest credit conditions review, which includes discussions with major High Street lenders following the referendum, said that banks expect “demand for secured credit” to slide despite little change in the availability of loans. The warning comes despite the cost of mortgage deals hitting record lows and the prospect of even cheaper loan costs to come if the Bank’s Monetary Policy Committee cuts interest rates on Thursday. Source: Evening Standard