How are you preparing for Brexit money wise?

paradigm · 7 Oct 2018 at 20:35

Went for a 5-year fixed mortgage deal in July, contemplated 2, but 5 should most likely see out any fluctuations for the foreseeable.

PlacidCasual · 7 Oct 2018 at 20:43

I’m much more worried about a Corbyn than Brexit. It strikes me as a very real likelihood with far reaching consequences.

deaglecat · 7 Oct 2018 at 20:59

Monkeynut · 7 Oct 2018 at 21:08

At the moment getting the flat sold and getting a house before the poo hits the fan, getting a fixed mortgage. In aid of the house I am getting a temporary weekend job just to get a bigger deposit to start so when we get the mortgage we don't need as much money. These are things which are not specifically because of brexit but will help if it goes into the toilet.

Tefal · 7 Oct 2018 at 21:17

deaglecat said:
If no deal then I expect some shortages and reduced choice...but only for a while until new supply lines are put in place. When they return they will probably be at higher prices.

As a nation we are not really that good at dealing with (even short term) shortages, which often cause needless panic buying.

My understanding is its not so much a case of shortages but due to the hold up at customs screwing just in time set ups.

But given everyone has to deal with this when they trade outside of Europe there should be plenty of experience and practices to use to make it a swift transition

Blackjack Davy · 7 Oct 2018 at 21:25

Brexit, no concerns at all. The next Labour govt on the other hand... get the hell out of the country while you still can.

shauncr91 · 7 Oct 2018 at 21:29

Just not paying it any attention, highly doubtful that any changes are going to be that significant apart from maybe some short term price rises on some daily items. Lifes too short to be worrying about things like Brexit.

antijoke · 7 Oct 2018 at 21:33

Blackjack Davy said:
Brexit, no concerns at all. The next Labour govt on the other hand... get the hell out of the country while you still can.

Because the Tories have done a bang up job.

CaptainRAVE · 7 Oct 2018 at 22:25

Meh, little will change.

chroniclard · 7 Oct 2018 at 23:01

Tories wrecking the country, pound worthless, massive austerity to continue for decades, businesses leaving left right and centre and people spout guff about being worried about Labour. #priorities

HangTime · 7 Oct 2018 at 23:29

No major changes for me:
-Disposed of most of shares in a specific company that I believe will experience slightly stunted performance due to this
-Made me a bit more cautious about buying a flat in London (hasn't got out of research phase)
-Has encouraged me to seriously consider an overseas holiday with my wife before the end of March (we haven't had one since 2012)

Zefan · 7 Oct 2018 at 23:37

Just the usual, making sure my household lives within its means and minimising frivolous spending. I don't think leaving the EU will cause too much of a problem for little old me.

SpeedFreak · 7 Oct 2018 at 23:56

Holding off my house extension until I have a view of what is happening to house prices. If prices drop we'll move, if they stay stable we'll go ahead.

Stretch · 8 Oct 2018 at 00:01

antijoke said:
Because the Tories have done a bang up job.

It's all relative.

Rotty · 8 Oct 2018 at 00:01

Blackjack Davy said:
Brexit, no concerns at all. The next Labour govt on the other hand... get the hell out of the country while you still can.

just prey that never happens

Narj · 8 Oct 2018 at 00:13

Postponing property sale given the spooked market. It might mean I pay less stamp duty and fees so might not be all bad.

Mark Carney might have done first time buyers a favour with his forecasts of Doom. Property prices need to come down for the benefit of everyone.

Rotty · 8 Oct 2018 at 00:41

I think its an area rather then a Brexit thing, houses are selling so quick around here and prices rising fairly rapidly

HungryHippos · 8 Oct 2018 at 00:43

Narj said:
Postponing property sale given the spooked market. It might mean I pay less stamp duty and fees so might not be all bad.

Mark Carney might have done first time buyers a favour with his forecasts of Doom. Property prices need to come down for the benefit of everyone.

Whilst I can see why an ever increasing trajectory of upwards prices is a bad thing, having them fall significantly could also be really bad. Especially if people have purchased with 10% equity, falling 10% would put their equity down to zero.

Pausing for a breather is probably the best outcome for everyone at the moment.