Despite UK membership of the EU, real estate law in England, Wales and Scotland has remained essentially national with minimal intervention at EU level.
Many private and overseas investors view Brexit as an opportunity, due to the cheaper pound and less competition from other buyers. As a result, Brexit will have little impact on the manner in which UK real estate is held or dealt with. Investors do not believe Brexit will have a material benefit on any other city. London is expected by many to remain a global financial centre regardless of Brexit – the factors that make London attractive are not going to change overnight.
In particular, Brexit will not impact upon the legal formalities relating to property ownership, land registration, leasing and the taking of security over land in England, Wales and Scotland. It is this body of land law, which is certain, stable and commercially orientated, coupled with a transparent registered ownership system and investor friendly leases which makes English law attractive for real estate investors.