UK house buyers offered Brexit escape clause

first_imgJeremy Raj, a partner at the law firm Wedlake Bell, told the Telegraph that they have already had clients demanding this deal.“We have already had clients requesting we negotiate for them the ability to withdraw from purchases if there is a Brexit vote, and it is clear that the uncertainty of the outcome of the referendum has had an effect on the market already,” Raj said. Also On POLITICO Health pros warn Brexit would damage UK health service By Helen Collis 10 steps to Brexit to keep David Cameron up at night By Tom McTague Real estate agents in the U.K. are offering nervous prospective house buyers a “Brexit clause” allowing them to back out if Britain votes to leave the EU on June 23, the Telegraph reports.The newspaper said that major estate agents such as Savills and Knight Frank and developers including Barratt Homes have begun offering the clause to buyers worried about a property crash.Last month, George Osborne warned that property values would take a “significant hit” if the U.K. leaves the EU and said house prices could fall by 18 percent over the next two years.last_img

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