Buyers race to beat Brexit uncertainty

One in seven mortgage and remortgage customers are racing to complete their application before the EU referendum on 23 June.

More than four out 10 customers say they are worried about economic uncertainty if the UK does vote to leave.

First-time buyers are most concerned about closing deals ahead of the referendum, with around three-quarters of those trying to hurry through applications buying their first house.

But just one in five brokers say clients are asking about the referendum impact on applications, according to new research for the Nottingham Building Society.

And 80% of brokers say the referendum is having no impact on their business. 

Ian Gibbons, senior mortgage broking manager at Nottingham Mortgage Services, said: “There have been all kinds of forecasts and predictions about what might happen and it is clearly having an impact on the mortgage market with people hurrying to complete applications.

“No matter how you intend to vote it makes sense to search the whole market when sourcing a mortgage deal and there will be options for borrowers no matter whether the UK decides to remain or leave on June 23.”

Ian Gibbons, senior mortgage broking manager at Nottingham Mortgage Services, said: “There have been all kinds of forecasts and predictions about what might happen and it is clearly having an impact on the mortgage market with people hurrying to complete applications.

“No matter how you intend to vote it makes sense to search the whole market when sourcing a mortgage deal and there will be options for borrowers no matter whether the UK decides to remain or leave on June 23.”