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Buy to let lender warns over Brexit's impact on housing market

OneSavings Bank, the parent organisation of specialist buy to let lender Kent Reliance, has given a warning on the possible impact of Brexit on the housing market. 

In a trading statement the bank says that “we are mindful of the macroeconomic environment, primarily driven by uncertainties surrounding the outcome of Brexit negotiations and the potential impact on the UK economy, including pressure on house prices, particularly in London.”

The brands operated by OneSavings, which was founded back in 2011 following a private equity buyout of Kent building society KRBS, specialises has been mortgages for professional landlords and has performed well despite wider eco nomic uncertainties and the new taxes and regulations aimed at buy to let. 

Its loan book grew 11 per cent in the first half of the year according to a trading statement made to shareholders, but its share price has been volatile of late because of its warning over Brexit’s impact.

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