The number of homeowners who fall behind on mortgage payments would jump by about a third if Britain were to crash out of the European Union instead of staying in the bloc, a specialist lender has warned. It also has emerged that Brexit uncertainty is taking a toll on the jobs market, with a survey suggesting that businesses plan to cut back on hiring for a second successive month and that corporate confidence is reaching its lowest level in more than two years Kensington Mortgages estimated that 70,296 borrowers would be more than three months in arrears on their repayments in three years’ time if Britain were to leave the EU without a deal and the Bank of England did not step in to prop
Homeowners struggling with their mortgage payments could increase by around a third with a hard Brexit , according to Kensington Bank . The niche lender , whose customers include contract workers and the self - employed , said its arrears model is built on analysis of 750,000 general obligation loans . It estimates that 70,296 borrowers will be over 18 months in arrears on their repayments by March 2022 if the UK leaves the EU without a deal and the Bank of England does not intervene to support financial markets , while staying in the EU would leave 52,755 in debt . Currently , 59,264 are behind on their payments .