Over one fifth of mortgage applicants are trying to speed up financial decisions.
Mortgage applicants want to know more about the impact of Brexit, research from Family Building Society reveals.
In a in the societies’ broker survey last month half of their customers mentioned Brexit when applying for a mortgage with half of those wanting to know more about the impact of a vote to leave the EU on their personal finances and the cost of buying a property.
Cammy Amaira, head of intermediary sales at Family Building Society, said: “It seems from the comments there's a real mixture in what brokers are saying to customers, and their own political bias may influence the response in some cases. However, the majority seem to believe that there's not a real way of knowing what may happen if we do leave the EU.”
The findings also revealed that over one fifth of mortgage applicants are trying to speed up financial decisions, whilst only one in 20 are delaying making a decision until after the vote.
Over half of brokers felt that their customers shouldn’t include the outcome of the vote in their decision making and over 60% felt that their clients have not been provided with all the information they need to make an informed decision about which way to vote in the referendum.
However the majority of brokers think there will be no change to interest rates (70%) and property prices (66%) in the UK, although there were mixed views on what would happen to the value of Sterling, with a third thinking it would go down.
Amaira added: “Most of our introducing brokers think customers should not be concerned about the outcome of the referendum and that property prices and interest rates won’t be affected. This is a marked difference from the opinions recently reported, notably those of RICS members March 2016) and Mr. Osborne that there could be a negative impact on the housing market.
“Front line brokers who speak to customers on a daily basis do not seem as concerned, and don't think the impact of a Brexit will be as big as the leave campaigners are making out.”
