“Brexit” Theresa May will formally trigger Article 50 today.

March 29, 2017

Today 29th March 2017 is the day that Theresa May will formally trigger Article 50, notifying the European Union of the intention of the United Kingdom to withdraw from membership.

This starts the clock running on a process that is supposed to take 2 years, however many believe that it could take longer. The timescale can be extended, but only by the unanimous consent of the European Council.

The terms of exit will be negotiated between Britain’s 27 counterparts, and each will have a veto over the conditions, this means Britain should officially leave the EU no later than April 2019.

It was only a few days ago on March 25, 2017 in Brussels, European leaders marked the sixtieth anniversary of the signing of the Treaty of Rome.

According to the Chartered Institute of Housing (CIH)  a ‘hard’ Brexit would disproportionately hit the UK private rented sector if immigration volumes from the rest of the European Union fell. Writing for the Council of Mortgage Lenders (CML) John Perry CIH policy adviser says: “Migrants are overwhelmingly concentrated in the private rented sector, so the impact of any fall in people coming from the EU will be far greater on this sector than on social housing.”

Read the CML News and Views report ‘Brexit means we need fewer houses – or does it?’ click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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