Mortgages

Homeowners will no doubt want to know what the possible impact of the end of the transition period could mean for their mortgage.

“It’s not clear what Brexit will mean for house prices, although previous predictions that prices will plummet have proved off the mark,” Mr Taklalsingh commented.

“After a difficult year, house prices were up 7.6 percent year-on-year in November.

“That is great news for homeowners, but not for first-time buyers.

“The pandemic has pushed the base-rate down to 0.1 percent and Brexit is just one factor that could further impact the UK economy and affect interest rates.

“The advice is to switch attention away from mortgage rates and on to personal finances while keeping up-to-date with the latest news.”