Whether you view it as striking a blow for British independence or a disastrous mistake, nobody is sure what Brexit will mean for British people’s lives over the coming weeks, months and years.

Many of us are wondering how the immediate economic uncertainty – and eventually leaving the EU – will affect us, our homes, jobs, money and pensions.

We have asked a series of experts how Brexit will affect our readers.

Personal finance

Rickmansworth-based accountant John Lee said: “It depends on whether readers have got a mortgage, but if interest rates go up, wealth goes down.

“If they are retired with a final job pension and some bank deposits you could understand their wealth would go, which is why people over-65 have voted to Leave.

“I have got some staff in their 20s who feel very let down by the older people.

“If mortgages are higher and more expensive, it will make it harder for young people to own their own house.

“They won’t benefit from higher interest rates but they could benefit from lower house prices.

“Everyone was saying how the Brexit depression would last for a couple of years. But some parts in the north of the country still have lower house prices than before the crash in 2007.”

Mr Lee also warned that if interest rates rise on business loans, it could restrict the number of people they hire.

Property

A Watford estate agent has said “people should not worry” after Britain decided to leave the European Union.

The pound fell to its lowest level since 1985 following the decision to leave and the FTSE 100 dropped by more than eight per cent. However, both regained some ground later in the day.

There has been speculation that the drop in the pound's value and the uncertainty of the country’s future could affect house prices and people’s decision to buy property.

However, a Taylors Watford sales negotiator has said people should ignore the “scare tactics”.

Warren West, 21, said: “I don’t see how the decision will have much effect on business, or on people looking to buy or rent property.

“Of course time will tell – the pound has significantly dropped so that can change things, but nothing is definite.

“The decision was only finalised a couple of hours ago, so we obviously haven’t seen any change yet.

“But people should not worry – I think a lot of what has been said is scare tactics.”

Local business

Watford Observer:

Lee Walsingham

Lee Walsingham, CEO of Watford and West Herts Chamber of Commerce, said: “We don’t know what the effect will be at this stage.

“There are implications for people that import and export with the effect on the pound and the stock markets could affect confidence.

“One thing we were planning on doing was asking our members how they feel.”

Mr Walsingham told the Watford Observer members had not raised concerns about bureaucracy within the EU holding up their trade.

He added: “I think one of the key considerations to take into account is that it will be more than two years before anything changes.”

When asked if businesses could delay making investments or putting their plans on hold, Mr Walsingham said: “I don’t think businesses can afford to wait.”

He added: “It is really the start. We almost need a couple of weeks for the dust to settle down.”

Law

Watford Observer:

Doug Locke

Doug Locke, a partner at law firm Veale Wasbrough Vizards, which has a base in Station Road, Watford, said: “At VWV in Watford we are having a busy day advising clients on the implications for their businesses and families following the dramatic result of the referendum.

“Many are anxious, some are shocked and surprised but the reassuring news is that nothing will change immediately and there will be a long period of negotiation before we leave the EU and laws start to change noticeably.

“EU law stipulates a two-year negotiation period on the terms of our exit and it is likely be several months before that formal process is triggered by the new Prime Minister. There will inevitably be some short term volatility on the stock market and foreign exchanges but we are not expecting that this will have a dramatic impact on house prices in and around Watford, or on interest rates or pensions.

“Over the longer term there will be significant changes in our laws (for example, in state aid and procurement rules, data protection, regulatory law, immigration and employment laws) and we will be on hand to help local businesses as the nature of those changes becomes clearer."