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Brexit impact on contractor finances

June 24th, 2016

Following the decision to leave the EU, attention has turned to what happens now. The uncertainty around stock prices and sterling were anticipated, but the implications for contractors across the UK are unknown.

The full impact of the Brexit is not something we will know overnight, but for now we analyse the immediate effect on contractor mortgages, protection and wealth.


Mortgage rates have remained at record lows in the lead up to the referendum, partly due to the competitively priced SWAP rates, the money market instrument used by many lenders to fund their fixed rate lending. However, with stocks falling and the value of the pound dropping to a 30-year low, the knock on effect could increase SWAP rates, driving up mortgage interest rates over the coming days and weeks.

To avoid a possible rate rise, contractors have the opportunity to secure their next mortgage deal now, taking advantage of today’s interest rates. This way they can avoid market uncertainty which is going to increase following the vote.

Contractor Mortgages Made Easy can secure a deal up to 3 months before your current rate comes to an end. In some circumstances they can secure a deal in advance of this.

To take advantage of one of our exclusive deals and low rates, contact one of our consultants today.


The FTSE 100 index began the day by falling more than 8% and there were also steep losses on equities markets in Europe. During the past credit crunch, poor overall performance of investment portfolios held by insurance companies was intimated to impact premiums on life and other protection policies.

Contractors who are on the fence about taking up any form of insurance should reconsider. By starting a company funded life insurance policy, you could start making tax savings as early as the next day.

For more information about protection, click here.

Investments and pensions

As uncertainty grows across the UK, the fundamentals of investment still hold true.

Investments are a long term game and short term losses shouldn’t necessarily drive you to substantially change your investment approach – this should be led by your individual goals and attitude to risk.

If you would like to review your investment approach, or would like to set up a suitable pension, you should speak to a qualified specialist.

Media Contact: Ratchelle Deary, Public Relations Manager

Tel: 01489 555 080

Email: ratchelle.deary@contractormortgagesuk.com

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