The United Kingdom is often referred to as the USA’s older brother, and despite the Revolutionary Wars, most of us still retain a link to the country. It’s where many of us came from, shaped our history and our laws, and we’re still constantly fascinated by their royal family.
It’s no wonder that the UK is one of the most emigrated to places for Americans. Not only is there no language barrier to overcome, but the cultures and industries are familiar.
However, recent changes – such as the Brexit vote – have made people wonder if something has changed in the UK. As Americans, it’s not necessarily something that we can understand. If you’re considering a relocation, you need to be up-to-date on the ways one of the world’s oldest countries is changing- and how it applies to you.
Brexit – the term used for the UK leaving the European Union on the result of a referendum – won’t affect us in the US at all. You’ll still need to go through a Visa process, and that won’t change. Also, the UK is going to need time to leave the EU; it takes up to two years and, at the time of writing, the formal leave process has not been triggered.
The one impact you might feel is actually a good one: with the pound sterling hitting record lows , your dollars are going to go further.
In fact, it might be a very good time to buy.
The economic shockwaves of the Brexit vote are only just being felt, but it could be useful if you’re planning a move. The long-term implications expected are a slowdown in the housing market. Couple that with the dollar being strong against the pound, and you might be able to afford a property you’d never dreamed possible. To sniff out the best deals, go with a good local estate agency who knows your target area well.
Where in the UK?
There is a chance that there is going to be a second independence referendum for Scotland, which may lead to the break-up of the UK. Keep this in mind when you’re looking to move. Scotland is generally cheaper than the rest of the UK, but no one is sure how independence is going to affect them. It may be wise initially to look at the three remaining countries – England, Wales and Northern Ireland – as they will likely be more stable.
Is the UK headed for catastrophe?
There have been predictions of the dire economic straits the UK may face outside of the EU. Don’t let them damage your plans too much. The UK is world’s sixth biggest economy and is well protected against shocks, and the central bank are involved in protections. If you have always wanted to live in the UK, there is no obvious reason at this time to delay your move. It’s a period of unrest and uncertainty, but countries don’t go bad overnight, and you should be able to ride out the storm.