UOB suspends London property loans programme

Singapore

UOB has become the first bank here to suspend its overseas loans programme for London properties in the wake of the "Brexit" vote.

Confirming this, the bank's spokeswoman told The Business Times on Wednesday that it will temporarily stop accepting 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," she said.

"We are monitoring the market environment and will assess it regularly to determine when we will re-instate our London pr…