Cheap mortgage solicitors are growing in number, which is why being able to compare conveyancing fees easily and quickly is so important.
The fact that more and more conveyancers are starting up is a good sign for the economy, but what will happen to house prices and conveyancing after Brexit?
As with all industries in the UK at the moment, conveyancing solicitors aren’t entirely sure what will happen once Brexit finally occurs. There are, of course, many theories from mortgage solicitors, estate agents, financial experts and others who have thought about the impact that Brexit might have on the housing sector. The consensus is that house prices will tumble after Article 50 is triggered and we begin the process of leaving the EU for good.
Why would this happen?
The theory is that there will be an ‘economic shock’ where the prices of everything waver in some way, thanks to the uncertainty of how the pound will react against its competitors in the world. The Treasury predicts that house prices will fall by up to 18 percent because the cost of mortgages will increase. If that happens, then fewer people will be able to purchase property, which will force prices to be lowered.
This could, however, be good news for those trying to get on the property ladder for the first time – although a mortgage could be harder to come by, property will be at an affordable level for the first time in decades. It will be interesting to see the outcome.
If you need cheap mortgage solicitors in the meantime, then use Conveyancing Index to compare fees.
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