EU referendum: What could the result mean for you?

In a historic vote on Thursday, the British public chose to leave the European Union by a majority of 52% to 48%.

Here, we look at the implications of the result on various aspects of life in our country.

• What impact will there be on my holidays abroad?

As the result was announced, the pound slumped to its lowest level since 1985, with sterling down against every single major currency group.

The obvious immediate result of this will be British holidaymakers having to pay more for foreign currency.

However, travel organisation Abta said people due to go abroad this summer will see "little changes to their holiday".

But a spokesman for the organisation added: "The fall in value of the pound will have an immediate impact on holidaymakers and their spending power overseas."

Ian Strafford-Taylor, chief executive of currency provider FairFX, said the reaction of the pound to Brexit could signal "longer term volatility", with holidaymakers "directly impacted".

He said: "Those consumers who did not stock up on their holiday money may find their holiday now becomes more expensive this year, if weak pound-euro rates continue into the summer.

"For example, yesterday consumers exchanging £1,000 would have received 1,306 euro but today they would only receive 1,231 euro - a difference of 74.60 euro (£60.61)."

Andrew Brown of Post Office Travel Money, which accounts for around a quarter of all UK foreign exchange transactions, urged holidaymakers to "watch currency movements very carefully".

• What is going to happen to the property market?

Experts have predicted the growth of the housing market will slow, with buyers waiting to see what happens to the economy.

Mortgages may become harder to get and less affordable if lenders put stricter controls on lending levels.

In the long-term, a shortage of homes is likely to boost prices, according to the Royal Institution of Chartered Surveyors.

Andy Pyle, UK head of real estate at KPMG, said the market's record of bouncing back meant it is still a "relatively safe bet, despite currency turmoil".

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Property agent Knight Frank said there is a chance mortgage rates may become "detached" from the Bank of England base rate, which is currently sitting at 0.5%. It suggested while the base rate could be cut further, lenders may actually start raising their mortgage rates as a technique to control their lending levels.

David Hollingworth, of mortgage advisor London & Country, said now was still a good time for buyers to get a good deal.

"Borrowers can only deal with what's in front of them and at the moment that's extremely competitive mortgage rates," he said. "What will happen to those rates we don't know."

Mark Harris, chief executive of mortgage broker SPF Private Clients, said people thinking about buying property may delay their decision in the hope prices fall.

• How will all of this affect my pension?

Experts have stressed that savers should not panic in light of the referendum result.

People considering moving money as a result of uncertainty are being told to seek advice first.

Tom McPhail, head of retirement policy at Hargreaves Lansdown, said: "If you are years from retirement and making regular savings, then just keep going; falls in the market mean buying investments at a lower price.

"If you are close to retirement, then try to avoid selling funds and shares right now. Annuity rates may move in response to changing interest rates, however this is not certain."

Mr McPhail warned there could be changes to the state pension as the Government looks to make savings.

He said the "triple lock" on state pensions, which guarantees they are uprated by a certain level, could be an "early casualty" of a Brexit.

Mr McPhail continued: "We could also see a more rapid increase in state pension ages."

There could also be further curbs to pension tax relief, Mr McPhail said, "so investors would be well-advised to make the most of the available tax relief while they still can".

• Could there be an impact on education?

Leading university groups have reacted to the news by saying it creates "uncertainty" and "significant challenges".

Dr Wendy Piatt, Director General of the Russell Group, which represents 24 leading UK universities, said it will work with the Government to minimise disruption.

Dr Piatt said the group will be seeking reassurances that EU funding to universities will be "replaced and sustained long term" and that staff and students at UK universities will be able to remain after Britain leaves the union.

“The free movement of talent, the networks, collaborations, critical mass of research activity and funding from EU membership have played a crucial part in the success of Russell Group universities," Dr Piatt said.

Dame Julia Goodfellow, President of Universities UK said that during the transition the focus should be on "securing support that allows our universities to continue to be global in their outlook, internationally networked and an attractive destination for talented people from across Europe".