“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.

You May Also Enjoy

Home and Living

Signs of Outdated Wiring in Older Tulsa-Area Homes

Tulsa has a lot of beautiful older homes. Brookside bungalows, Maple Ridge tudors, the postwar neighborhoods that fill out Midtown and East Tulsa. They were built well, but most were built before central air, before microwaves, before two-car households with two laptops and a dozen phone chargers. The electrical systems inside them were designed for…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

Britain’s seaside price hotspots revealed

New analysis from the UK’s largest property platform Rightmove reveals Britain’s seaside hotspots where prices are rising the fastest Bootle in Merseyside leads the way, with average asking prices up 11% year-on-year, followed by Crosby in Liverpool (+9%) and Penarth in South Glamorgan (+9%) Other coastal locations including Llantwit Major in South Glamorgan (+8%) and Llanelli, in Carmarthenshire (+7%) are also seeing strong price growth Average asking prices are currently 0.3% lower in Great Britain compared to last year, with some seaside hotspots outpacing the…
Read More →
Estate Agent Talk

Hertfordshire emerges as strongest performing London commuter county

New research from UK Property Development reveals that while London property prices fell by more than -3% in the past year, prices in some of the capital’s surrounding counties have enjoyed positive growth, none more so than the premium commuter county of Hertfordshire.   In the past year, London’s average house price has fallen by…
Read More →
Estate Agent Talk

Second homes losing appeal among the rich

New Survey Reveals Ongoing Maintenance Is the Biggest Barrier to Second Home Ownership   62% say upkeep and hassle would stop them from buying a second home, even if money were no object   A new survey conducted by luxury co-ownership platform Equity Residences has revealed that the practical realities of owning a second home…
Read More →
Letting Agent Talk

How to build a property portfolio with buy-to-let mortgages

One of the reasons property is such a popular asset choice for investors is that you don’t need to invest all the money yourself; you can leverage funds from the bank. Here’s a very simplistic example of how borrowing via a buy-to-let (BTL) mortgage allows you to multiply your returns versus owning a property all-cash:…
Read More →
Home and Living

2026’s Fastest-Growing Bathroom Trend Is the Wet Room

“Wet rooms have become one of the standout bathroom upgrades of 2026, moving from luxury extra to everyday renovation choice as more homeowners prioritise space, style and easy cleaning. The momentum is only building as spa‑style bathrooms stay in demand.” “Wet rooms used to be a niche request,” says Ant Langston, Marketing Manager at Heat…
Read More →