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A bleak forecast for the Housing market - Is Brexit to Blame?

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It has recently been reported in the media that the housing market outlook over the next three months is the most downbeat reading since records started in October 1998. This pessimism is blamed on the lack of clarity around Brexit. A recent UK Market Residential Survey from The Royal Institution of Chartered Surveyors' reported subdued activity in almost all areas of the UK was mainly driven by Brexit uncertainty.

Since the onset of the Brexit Negotiations, we have heard various views on the implementations of Brexit from both politicians and economists alike. Some negative and some positive. However, it is quite evident that whether you are a Brexiteer or a Remainer no one can really guarantee what lies ahead and therein lies the problem.

Over the last few months, the numbers of people contacting GDP Equity Experts has increased at a fairly alarming rate. Our case rates have doubled year on year mainly driven by the fallout from Brexit. More and more people are now being forced into dealing with their problems head on and unfortunately we do not see this pattern changing.

The stark realisation of financial failure can have a dramatic impact on people, families, relationships, and individually from an emotional and physical perspective.

The fear is that with the onset of Brexit, many mortgage holders may be unable to cope and pay their bills. Some might only be able to make repayments with dramatic cutbacks in other spending. Others might face repossession or need forbearance by their lender.

Bearing this is in mind, we feel it is essential that individuals living within the UK and indeed Ireland plan for what is coming down the road and the first place each of us can start is to have an understanding of our weekly and monthly outgoings.

What should I do?
Undertake a complete financial review of your finances to determine your total monthly income and monthly expenditure levels.

If you know money is tight, spend some time today, tonight, this weekend on working out how tight things are going to be over the coming weeks and months ahead. Knowing what cash you have spare can help you start to put a little aside to cover you if something goes wrong or your monthly bills are to increase. 

Let’s face it, with Brexit only 9 weeks away that is what is likely going to happen.

Step 1 - ASK FOR HELP - Try not to wait any longer, if you have a financial issue, or are concerned about any of the matters mentioned in this piece, simply ASK FOR HELP NOW.

What can we do to help?
Our proven track record here at GDP Equity Experts speaks for itself. We are fully regulated by the Financial Conduct Authority and over a 9 year period, we have helped hundreds of families find the most appropriate and workable solution to their debt related issue.

We take pride in our first-class advice and assistance that we offer to our clients. GDP Equity Experts take away the stress and burden that individuals and families shoulder by becoming the barrier to this debt.

We will work closely with you from the very start of the process as we know what is expected and how to get you to where you want to go.

It is quite simple; we WANT to hear from you today because we WANT to help you today.

If you would also like to download a copy of our 7 step guide to our eBook, then please hit the button below.

Darwin AllenComment