15th August 2018
What happens to our mortgage after Brexit?
The Caturova family, originally from Latvia, are wondering what will happen to their mortgage once Brexit has happened.
The family came to Britain in 2013 and have worked here since. The have settled down, buying their first home last year and taking a two-year fixed-rate mortgage at an interest rate of 2%. Mrs Caturova is concerned, however, about the impact of Brexit — on their legal ability to remortgage and the interest rates they might be offered — and would like some advice.
It is worth noting that lending criteria will have to change to accommodate a new system once we leave the EU, but some lenders may choose not to conform to this. However, lenders will still be required to treat everyone fairly and equally and as such, criteria for offering mortgages and rates could change for everyone living in the UK after Brexit.
Read the full article on The Times website.Read now