From employment to housing: How Brexit could affect you
Last Thursday Britain voted to leave the EU, raising a number of questions about the impact decision will have.
Although many of the true effects of leaving the EU may not become clear for some time, we take a look at what the Brexit vote could mean for you.
Will the Brexit vote change employment law?
Some of the most important guidance from the EU on UK employment law has been limited to basic rights including freedom from discrimination and the right to a minimum period of paid holiday.
However, as withdrawal from the EU is likely to take a few years, we won’t see immediate changes to employment law.
It seems that little will change in the short term with the impact on jobs and employment law becoming much clearer once negotiations to exit the EU begin.
Will the leave vote affect my summer holiday?
Any Britons travelling to Europe will still enjoy visa-free travel to EU countries for the foreseeable future.
The chances are this will remain the same as we enjoyed visa-free travel to much of Europe before joining the EU.
Although anyone travelling abroad will have to prepare to switch to the ‘All other passportsâ? lane once we have left the EU.
In terms of spending, the fall of the pound against the Euro means that a family who spent Â£500 on holiday in Europe last year would need to around Â£65 more this year.
Could the housing market change?
Those in favour of the remaining in the EU regularly warned of a drop in house price should we vote to leave the EU.
A reduction in house price could be seen as a positive for first-time buyers who have so far struggled to get onto the housing ladder.
Mortgages have at this stage avoided sudden hikes as the Governor of the Bank of England stopped short of increasing interest rates.
This has protected millions of households on tracker style mortgages from seeing an immediate rise in the cost of their repayments.
Speak to the expert solicitors at Farnworth Rose
Whether you’ve been consider purchasing a new home or have any questions on the effect of Brexit on your employment, the specialist solicitors at Farnworth Rose are on hand to help you.