Audio By Carbonatix
One of Singapore's largest lenders, UOB, says it has suspended its loan programme for London properties.
The decision comes in response to uncertainty caused by the UK's decision to leave the EU, the bank said.
The vote on 23 June caused global market turmoil and pushed the pound to 31-year lows. The Singapore dollar has gained about 10% since the referendum.
Singaporeans were the top Asian buyers of UK commercial property in 2015,according to consultancy Knight Frank.
UOB told the BBC in a statement: "We will temporarily stop receiving foreign property 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."
Singapore's biggest lender, DBS, is continuing to provide financing, but is advising its customers to be cautious.
"For customers interested in buying properties in London, we would advise them to assess the situation carefully," DBS executive director of secured lending, Tok Geok Peng, told the BBC.
"With foreign exchange risks, even if the value of the overseas property rises, any gains will be eroded if the country's currency depreciates against the Singapore dollar," Mr Tok explained.
Singapore's other big lender, OCBC bank, told the BBC it had not made any changes to its advisory policy.
Head of consumer secured lending Phang Lah Hwa told the BBC that OCBC was still making financing available for London properties and was "monitoring the situation closely".
Latest Stories
-
Harry says he was made ‘paranoid’ by Daily Mail publisher’s ‘unlawful’ actions
4 hours -
Trade war in no-one’s interest, says British PM in face of Trump threats
4 hours -
Greenland ‘will stay Greenland’, former Trump adviser declares
4 hours -
I do not want to reconcile with my family, says Brooklyn Peltz Beckham
4 hours -
Djokovic registers 100th Australian Open win
5 hours -
China’s birth rate hits record low as population continues to shrink
5 hours -
US believes its power matters more than international law, UN chief tells BBC
5 hours -
2028 is not a normal election – Amewu explains why NPP needs Kennedy Agyapong
5 hours -
The whole nation wants Kennedy – Amewu makes strong case for Agyapong
5 hours -
Sogakope Circuit Court jails farmer 15 years for incest, defilement
6 hours -
31-year-old illegal miner sent to prison over theftÂ
6 hours -
Court remands GPHA staff over stolen tugboat
6 hours -
Attendance at trial is a constitutional duty, not an option
7 hours -
RTI response raises questions over Bryan Acheampong’s military service claims
7 hours -
Two women granted bail over assault of 12-year-old; another remanded
7 hours
