Should you put off buying a property due to Brexit?

Martin Lewis was asked: “If you wanted to move house next year, would you put it off a year and wait because of the Brexit uncertainty?”

The Money Saving Expert told fans that he would not change his plans based on external factors like Brexit.

Explaining, Martin said: “After March we will have more certainly with what’s happening with Brexit or that Brexit isn’t happening, or isn’t happening in the way it is planned to happen.

Martin told his fans that he would not focus on Brexit and the property market at large.

Instead, he suggested that Britons focus on their own financial situation.

“The truth is I tend to believe that these sort of externalities, when you try to play the market most people get it wrong so the best thing to do is look at your own circumstances,” Martin said.

“If you want to sell your house and you get a decent offer that enables you to do what you want, maybe buy a new house somewhere else or maybe store the cash, then do it.

“Yes, you may look back in the future and say if only I had waited it might have been better or thank heavens I didn’t wait it would have been worse but you can’t know that.

“So you can focus on your internalities, that’s not the right word, more than your externalities.”

How will Brexit change house prices?

You should do your best to ignore the outside factors when buying a home, and aim to get a fixed-rate mortgage, he said on his ITV show, ‘The Martin Lewis Money Show’.

“The one thing that is certain is uncertainty, said Martin Lewis. “That is what’s worrying everyone.

“A fixed rate mortgage is by definition ‘certain’. If you want certainty in these uncertain times, that’s what it does.”

TNT Business

Photo Credit: This Morning

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