DeVere halts property division 'with immediate effect' amid UK mortgage crisis

Mark Battersby
clock • 2 min read

DeVere Group is to pull all UK property investment projects amid heightening economic upheaval, it said in a statement on 3 October.  The international financial adviser firm, which has $12bn under advisement, said that "with immediate effect it will temporarily close its property investment division as inflation fears grow, which suggests that the Bank of England will have to continue to hike interest rates more aggressively to combat rising prices". James Green, deVere Group investment director, said: "We are concerned about the availability of credit and, therefore, an imminent dro...

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