30 Jun '16, 8am

Singapore bank UOB suspends London property loans following Brexit vote

Singaporean bank UOB has become the city state's first lender to suspend loans for London properties citing uncertainty caused by the result of last week's EU referendum . "We will temporarily stop receiving foreign property loan applications for London properties," a UOB spokeswoman said in an email. "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." UOB is Singapore's third biggest lender - the country's biggest lender, DBS Group Holdings, said it would continue to provide financing for property purchases in London but was advising customers to be cautious. ""For customers interested in buying properties in London, we would advise them to assess the situation carefully before committing to their purchases as there could be potential foreign exchange a...

Full article: http://www.cityam.com/244495/singapore-bank-uob-suspends-...

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Singapore's UOB suspends London property loans after Brexit

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