Q. 
My partner and I were thinking of trying to buy this summer but given the fallout of Brexit we are a little unsure what we should do now? There seems to be a lot of conflicting advice around and given we have been saving hard for such a long time we really don’t want to make an bad decisions this late in the day, can you help?
A. There is a great quote that springs to mind ‘when in doubt do nothing’. The property market has natural highs and lows and quite honestly even the professionals find it hard to predict most of the time but following Brexit I do believe as a first time buyer heeding the message in that quote would serve you well. After all you have been waiting this long what’s the difference of a couple of months going to do? I think despite the chaos right now things will eventually settle down and actually all indications are that the market is heading for a dip which would actually mean you will pick up something a little cheaper than you anticipated pre Brexit. Mortgages also are extremely competitive right now even more so than they have been over the last few years. Falling mortgage rates are saving first-time buyers more than £1,300 during the first two years of owning a home. Competition among lenders has seen the typical cost of a 95% mortgage of £130,500 drop from £11,327 over two years at the beginning of 2015 to just £10,019 in 2016. The gap between the cost of paying mortgage interest and renting has never been greater. So all in all buying is definitely still possible but I think you just have to be smart about timing that’s all. You will see a natural levelling out of the market which will take a few months to settle down. Our property market is still strong especially in London, one basic common denominator is that people still have to have a home and move, so a little peak or trough in the market along the way is always expected, you just need to ensure that you gear yourself up ready for when the time is right, go to see a financial advisor get a Mortgage approval in place, continue to top up your deposit and keep a close eye on property prices. Talk to professionals to get a handle on the market and go for it as soon as the time is right. Patience is a virtue especially when you are about to purchase the largest asset you will likely ever own!