The curtain is soon to come down on 2016, one of the most momentous years in modern British history. Serving as the most definitive event over the course of the last 12 months was the decision on 23 June for the country to leave the European Union. It was an event that, in its aftermath, has triggered a number of significant political and economic catalysts that are set to alter the UK’s investment and property landscapes immeasurably.
Beyond the resignation of Prime Minister David Cameron, subsequently replaced by Theresa May, came an overhaul of the Cabinet, followed in August by the Bank of England’s decision to cut interest rates to a record low 0.25%. Then, serving as a timely swan-song to the traditions of chancellors past, in November Philip Hammond delivered his first – and ultimately the last – Autumn Statement, which included several notable announcements pertaining to the UK property sector.
As the New Year approaches, MFS has taken time to look back at these significant developments from the last year and asks what 2016 has meant for the UK’s property market and bridging sector. Furthermore, we have cast our eye forward to 2017 and reviewed the key events that are likely to shape the months ahead. And finally, within this report we have also explored MFS’s own major successes from recent months, as well as our core objectives for next year, which promises to be an exciting one for both our company and the bridging industry as a whole.