Fearful of landing in immediate negative equity, some buyers have decided to put their purchases on ice. Photograph: Yui Mok/PA. Hilary Osborne, Patrick Collinson and Miles Brignall.
Wilbur Ross is unlikely to pursue a takeover of Tata Steel's UK business in the wake of the EU referendum, Sky News learns. 15:02, UK, Saturday 25 June 2016.
17.01: The FTSE 100 closed down 3 per cent or 199.41 points at 6138.69 after a tumultuous day on markets following the UK vote to leave the EU.
In early June, the Chancellor George Osborne stood shoulder to shoulder with Jamie Dimon, the boss of JP Morgan, to warn that a vote to leave the EU would cost the jobs of up to one in four British workers at the bank.
Banks and hotels around the world are refusing to swap the pound into local cash, leaving many holidaymakers penniless. Incidents of this nature have been reported in USA, Greece, Bulgaria and Australia.