30 Jun '16, 7am

Singapore bank halts London mortgage lending following Brexit:

Singapore bank halts London mortgage lending following Brexit:

A sian news agencies cited an email from a UOB member of staff saying: "We will temporarily stop receiving foreign property loan applications for London properties. "As the aftermath of the UK referendum is still unfolding and given the uncertainties, we need to ensure our customers are cautious with their London property investments. "We are monitoring the market environment closely and will assess regularly to determine when we will re-instate our London property loan offering." Another Singaporean Bank, DBS, was reported to warn clients that a fall in sterling could erase some of the gains London property investors had enjoyed to date. Second property fund writes off £130m as Brexit chill spreads How Brexit will have skewed your portfolio - and how to fix it ​ The news will come as a blow to developers in central London, many of which are now battling to shift stock. Ma...

Full article: http://www.telegraph.co.uk/property/uk/singapore-bank-hal...

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