BREXIT may be the driving force behind the disappearance of Marmite from our supermarket shelves but the result of the EU referendum has failed to dent the UK's mortgage market.
Rather than ebb away, there has been a remarkable rise in mortgage lending, thanks to record low rates attached to home loans. In fact, the Council of Mortgage Lenders has said August 2016 was its strongest month since 2007 - 15% higher than during the same month in 2015.
We know that the Government's change to stamp duty fees at the most expensive end of house buying has hit some London movers but purchasers can claw back some of the losses by tapping into a quite unbelievable mortgage market, where borrowing has almost never been cheaper.
Miles Roberts, the Sales Manager at North West London estate agents London Residential, is quick to add that brisk sales are accompanying the buoyant mortgage market: "Twice as many sales were agreed by London Residential in September this year compared to the previous two month of July and August combined - illustrating the uptick in business. Market savvy buyers in the capital are not listening to media scaremongering. We feel London will continue to be the focal point of the arts and business world, and the capital's worldwide stature will shrug off any post-BREXIT worries."
Fears raised over the UK housing market in the wake of the Brexit vote have so far proved to be ‘wide of the mark’.