Brexit

Brexit & Mortgage Interest Relief

Brexit & Mortgage Interest Relief

Brexit has sent shockwaves throughout the developed world causing turmoil (opportunity!) in the markets. At this stage (early July 2016) what has the actual impact been? Yesterday the GBP/ EUR pair hit a 31-year trough, falling 11% since the Brexit vote. Those shorting the FTSE were lulled in to a false sense of victory as the index dropped 2% immediately upon LSE opening on the day of the Brexit announcement and then recovered to a week-high. Since then, the FTSE has topped 7% growth perhaps due to attracting foreign investors looking to take advantage of a favourable USD/ GBP exchange rates. UK Hedge Fund Manager rakes in £220 million betting on a successful Brexit whereas $2.08 trillion was wiped off global markets. The trend here is knee-jerk reaction, claiming followed by turmoil of uncertainty. This is true also in the property market, albeit slower.?

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