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United Overseas Bank stops funding London property

PC Lee Published on Thu, Jun 30, 2016 / 3:30 PM GMT+8

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SINGAPORE (June 30): United Overseas Bank says it has temporarily stopped funding London properties as it awaits more clarity on the fallout of the British vote last week to leave the European Union.

“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,” the bank says.

UOB says it will regularly assess the market environment to determine when to restart offering loans for London property.

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United Overseas Bank stops funding London property