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Just as you’d feel stupid if post brexit the £900k house only falls to £850k but interest rates shoot up and that £850k debt becomes unaffordable.
I think at that point you'd realise you really are a crab in a barrel and maybe mansion owning isn't for you.
Also, I suspect a 4% increase in rates and only tiny dent in house prices isn't that realistic a scenario. Could be wrong tho.
Howard
Just as you’d feel stupid if post brexit the £900k house only falls to £850k but interest rates shoot up and that £850k debt becomes unaffordable. You’ll wish you’d locked in on a long term fixed rate at the higher purchase price because it was £2k a month cheaper to service the debt (based on a fictional 4% rise in rates).