Singapore’s UOB Halts London Property Loans After Brexit Vote
By-
DBS, OCBC continue to offer loans, though urge caution
-
Pound plunged after Brexit vote, U.K. property prices may drop
United Overseas Bank Ltd., Southeast Asia’s third-largest bank by assets, said it will temporarily halt loans for property purchases in London, due to the uncertainty caused by the U.K. vote to leave the European Union.
“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,” a UOB spokesperson said in an e-mail. “We are monitoring the market environment closely and will assess regularly to determine when we will re-instate our London property loan offering.”
Singapore’s Business Times newspaper reported earlier on UOB’s decision to suspend its London property lending…
Singapore’s UOB Halts London Property Loans After Brexit Vote
