Claims that values of homes and costs of mortgages could be hit if Britain leaves the European Union (EU) have been dismissed by a Liverpool property expert.

Chancellor George Osborne, who is in support of remaining in the EU when the referendum takes place on 23 June, made the suggestion during an ITV interview by Robert Peston.

Ahead of a report which is set to be released highlighting the short term effects of exiting the EU, the Chancellor said: “The value of people’s homes will be affected and people trying to get on the housing market will be hit because mortgage prices will go up.

“This is an example that this isn’t just a big question of who we are at the moment, it also goes to the heart of people’s financial security.”

However, Louis Anastasiou, director of Andrew Louis, says: “By what yardstick has the Chancellor used to make such a bold statement or is this just another scare tactic to convince us to stay in the EU?

“In my view, it is only the law of supply and demand that can have an impact on the housing market.”

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