An insurer has cancelled a £400,000 mortgage insurance policy due to the Brexit referendum result.
The firm said the policy was “incompatible with the UK Government’s decision to leave the EU”.
In a statement, the insurer said it had received “several inquiries” about the policy over the past few weeks, but would not be able to give any details.
“The decision was made to cancel the policy on the basis of the Government’s Brexit policy change, and therefore the decision has been made to withdraw the policy,” it said.
“If we cannot secure the policy in the future, we will take steps to ensure that it is cancelled.”
The insurer said there had been a “very significant increase” in demand for the policy as people waited for news of Brexit.
Theresa May said the Government would not change its Brexit policy as it did not want to trigger a hard border between Northern Ireland and the Republic of Ireland.
But Northern Ireland Secretary David Ford said the UK would remain in the single market, the customs union and the European Economic Area.
“It is the Government policy to remain in a single market with the EU, and to remain outside the customs Union,” he said.
“The Government is committed to a free trade agreement with the European Union.”