Cheaper houses, more expensive holidays: Five of the most important changes to the UK if Scotland votes for independence

 
Sarah Spickernell
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The pound would be weaker than other currencies, making holidays more expensive (Source: Getty)
With the Scottish independence referendum just two days away, a question on many people's minds is what will happen to their finances if Scotland does decide to leave.
Here are some of the ways in which those left in Britain will feel the effects.
House price fall
Online estate agency Emoov has predicted house prices could fall by as much as 20 per cent in Scotland if it decides to go solo, and the remainder of the UK may well feel the knock-on effect of that.
“In precarious times, one of the first things to suffer will be jobs. Unemployment means home repossessions and downward pressure on values,” Emoov chief executive Russell Quirk told This is Money.
It may be worth holding off on that purchase for a couple of days...
Mortgage cost decline
While in Scotland, activities such as the adoption of a new currency would cause a rise in interest rates and push up mortgage costs, the opposite would be likely to occur south of the border - borrowers may benefit as the government tries to keep the economy stable by holding off on an interest rate rise.
Equities would be hit
Increased uncertainty would result in an overall decline in share prices for UK companies – as a sign of what's to come, share prices have already been tumbling for Scotland-based companies after polls last week suggested independence was becoming increasingly likely.
That said, certain companies such as Ryanair and Easyjet could benefit from independence - the Scottish government has confirmed it would halve passenger duty on a Yes vote.
Savings uncertainty
Because the government is likely to hold off raising interest rates for longer, this would be a disadvantage for savers.
Additionally, those with savings in Scottish banks might want to switch in anticipation of a mass exodus of businesses and banks from the country.
More expensive holidays
As uncertainty mounts, the pound has depreciated in value compared to the dollar and the euro – a trend that will only continue if Scotland votes for independence. Bad news for those who like to travel.

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