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A no-deal Brexit could plunge the UK into financial shock, claims Bank of England Governor




Mark Carney, The Bank of England's governor has warned that a no-deal Brexit could cause house prices to fall and the UK economy into financial shock.


His worst-case scenario was that house prices could fall as much as 35% over a three year period.


Reports also claim that Carney stated mortgage rates could rocket, the sterling could decline and inflation would increase, as well as many homeowners left in negative equity.


The Governor of The Bank of England said that banking "stress tests" were put in place to determine and ensure that the big UK banks could continue to meet the needs of the country through any type of Brexit outcome.


Mark Carney said, "Our job, after all, is not to hope for the best but to plan for the worst," the BBC reported.


To read the full article on the BBC website, visit https://www.bbc.co.uk/news/business-45516678


We work with UK SMBs to recover outstanding invoice debt in a professional yet firm manner. If "project fear" are correct and the statistical predictions of another market downturn becomes a reality, you as a business owner are going to need to collect and manage as much cash in from debtors as possible. Not-to-mention, ensuring that your current cashflow status is in a good debtors position to help build up a "war-chest" of cash to allow you to sail through the potentially stormy seas ahead of us.


Contact us on 020 8720 7309 for more information and we will explain how we can help you.

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