By tomorrow everyone in the United Kingdom may have voted to leave or remain in the European Union. The hotly-contested debate continues until tonight for both campaign sides. But the problem is, the common folk will have trouble.
It was in 1973 that the UK joined the European Union. After decades of prosperity, the UK is faced with a decision because during the time, many UK families had purchased a European home with the more flexible agreements between banks and financing.
The first trouble could be that it would be troublesome to head to your home now. You would need a VISA to enter some popular destinations in the EU. What was once seamless travel for UK citizens will now become a chore as they would have travelled to the United States or Turkey.
Mortgage is another thing. As UK banks have an agreement with almost ever financial industry sector in the EU, the new agreements, should a Brexit happen, can be difficult. British borrowers would find it difficult to get a mortgage abroad in the event of political disunion.
In short, it would be hard to use the affordable housing and mortgage rates unless you’re a long-time resident and have applied for naturalisation in the EU state you’re in.