Mortgage arrears to 'rise 30%' in no-deal Brexit

Martin Bamford, chartered financial planner at Informed Choice, said: "Arrears and repossessions are at very low levels, after years of next to zero interest rates and rising employment. A no-deal Brexit scenario could result in a rise in arrears, although any economic outlook is very uncertain. 

"Banks will no doubt be modelling for a range of possible outcomes and ensuring they have sufficient capital reserves to cope with the worst possibilities. 

"Borrowers should be taking advantage of such low interest rates on offer and overpaying their mortgage or building up a reserve of savings, so they can cope financially when the next economic shock arrives, whatever the cause."