30 Jun '16, 10am

Brexit: Singapore bank suspends London property loans

Why this British town voted to leave the EU A top Singaporean bank has stopped providing loans for London property purchases after the U.K. voted to leave the European Union. United Overseas Bank (UOVEF ) has put a temporary hold on foreign residential property loan applications amid continuing Brexit fallout, and said it was encouraging clients to exercise caution. "As the aftermath of the U.K. referendum is still unfolding and given the uncertainties, we need to ensure our customers are cautious with their London property investments," said Jean Khong, a spokeswoman for UOB. "We are monitoring the market environment closely and will assess regularly to determine when we will re-instate our London property loan offering." Last week's surprise vote sent global markets into a tizzy and set the U.K. on an uncertain political and economic course. Investors have also focused o...

Full article: http://money.cnn.com/2016/06/30/news/brexit-london-proper...

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