Britain leaving the EU may disrupt the Liverpool housing market due to its impact on the financial services sector, according to a Merseyside lender.

Bridging Finance Solutions managing director Steve Barber claims Brexit could delay investment and lending decisions in the region and reduce activity.

He tells Your Move: “Major firms from across the world come to the UK to access Europe’s single market, bringing with them jobs and investment. While Brexit may not be ruinous for the UK economy, it does risk damaging the UK-based financial services sector, particularly over the short term, potentially delaying investment and lending decisions in the region and reducing activity. It also threatens the overall competitiveness of the UK as a place to do business.

“It’s this suggestion of delaying investment decisions and reducing activity which may be most damaging to the financial service industry and the UK’s position as a global economics hub.”

Steve, whose company provides short-term finance to property developers and investors, also believes Brexit could potentially “reduce liquidity for the UK property market”.

Britain will hold a referendum tomorrow (23 June) to determine whether the country will remain in the EU. Check out our Europe: In or out? feature for more insight into how Brexit could affect the property market.

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