What Does the Financial Future Hold Now the UK has ‘The Brex Factor’?

Written by Karen Bryan

brexitSo, the UK voted out. The UK had our say and then we felt unsure. In fact, the whole country seemed to be in disarray in the aftermath of this historic vote. It will take two and a half years for us to experience any real change, but there’s been lots in uncertainty over our economic future. 17.4 million British voters backed Brexit and the following morning the pound plummeted to its lowest level since 1985. The FTSE 100 index also fell by over 8% when trading began. This is its biggest slump since 2008 although it was recovering slightly by mid-morning.

Since then, the country’s undergone much change. British politics became something of a pantomime and this turmoil only served to undermine confidence more. But what’s the real story in terms of the impact of Brexit and how will it play out under the ‘fresh leadership’ of Theresa May?

Concerns being expressed across the country include the possible impact of Brexit on jobs, mortgages, pensions, savings, grocery shopping, and prices at the pumps. So, how much will day-to-day living in the UK cost now that we’ve decided to leave the EU? Has Brexit sent you into a financial panic or is it business as usual as far as you’re concerned? Have your say in our online survey and let us know how you think ‘The Brex Factor’ will influence your financial decision making.

None of us can accurately predict Britain’s future financial landscape so while there’s no need to panic it’s advisable to give careful consideration to all your financial decisions – but then that should be the course of action no matter what. Keep an eye on our survey results and we’ll reveal the impact so far of The Brex Factor.