I think that the UK is in a worse position than the eurozone or the USA. The gilt market has been playing up over the past few days causing concerns over interest rates. Mortage lenders have been withdrawing deals until they see where the market is going:
Newsflash: UK 2-year bond yields above Truss panic levels
Expectations that UK interest rates will keep rising are driving up the British government’s short-term borrowing costs ABOVE levels seen in Liz Truss’s brief premiership.**
That’s bad news for people who looking to take out a mortgage, or remortage, soon.
Spoke in the wee hours to a cousin in England. She is about 25 now. She sells commercial property in London. Her dad has a real estate holding company. She is saying it is hell in London to sell. Brexit was suppose to cut some of the rules out. Instead there are now more rules that are restricting her business.
You guys are nuts. Let an Irishman discuss this with you it might help.
However, we are one of the worst performing economies in The Western World and the bond market is getting worse by the day:
I know someone who has about six rentals. He was financing the purchase of these with mainly Bank of Ireland interest only loans of 1.99% pa. I saw him the other day and he sounded a bit worried.
While Brexit was the main objective the people involved are ejits. Top to bottom ejits. My cousin is besides herself at how things are being decided.
It is a paradox get away from Brussels to make your own decisions and all the UK does is make a lot more complex and worse rules. No rules ends up being more rules, the paradox.
Brexit was done sheerly for bigoted reasons as usual. The UK invited truly bad results on itself. Those folks for Brexit were never trustworthy people.
Oh and as an Irishman I will loudly discuss when someone from the UK has no integrity. Definitely will do so. Where to start?
Overall, the government’s independent watchdog, the Office for Budget Responsibility, thinks the UK will ultimately be 4% worse off, than it would have been if we had voted no to Brexit - although for many voters, Brexit was more about sovereignty than the economy.
