Earlier this month, the High Court ruled that MPs would have to vote on whether the UK should invoke Article 50, which would begin the country’s exit from the European Union.

However, the government reacted by revealing that it would be appealing the judgement.

This, according to Sam Howard, COO of Regentsmead, has created uncertainty, which markets hate.

“The lending market is no different, whether you’re a borrower, introducer or lender you want to know that the macro political and economic picture is certain.

“The High Court vote has put a spanner in the works for Mrs May's plan to trigger Article 50 early in 2017.

“Now we’re faced with a scenario where any decision could be put off while endless debate takes place in parliament.

“My concern is that whatever your view on the type of Brexit you would like, it is almost always better to make a decision and stick to it.

“Lenders may have difficulty with outside investors getting nervous and borrowers may put off building until they know what is happening.”

Mike Strange, managing director of Funding 365, felt that the High Court’s decision reminded everyone what an uncertain process leaving the EU would be.

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“The High Court decision itself probably doesn't make any material difference to the path that the UK is now on, but it does make headlines which will, increasingly, unnerve investors worldwide. 

“Investor nervousness, amid an uncertain outlook for the UK, is most definitely a negative for the London and South-East housing market and the lending market in general."

Bob Sturges, head of PR and communications at Fortwell Capital, felt the High Court’s decision would have very little impact on the industry.

"Nearly five months after the referendum, the lending industry has had plenty of time to factor into its planning and thinking that the UK will be leaving the EU. 

"What remains unclear is on what precise terms we will be leaving. This will only unfold once Article 50 is triggered.

"Whether that triggering will now be delayed beyond its expected March 2017 deadline remains to be seen, but it will not affect the ultimate outcome.”

Alex Moss, operations manager at Zorin Finance, added that the High Court’s decision seemed like a pedestrian aftershock in a financial landscape that had proved itself to be relatively earthquake-proof.

“Although the prevailing view is that the government will lose its appeal against the High Court’s decision in December, the consensus in Westminster is that such a result presents a speed bump rather than barricade to the UK eventually leaving the EU.

“Furthermore, in response to recent leaks which allege the government has no concrete plans for Brexit, the markets reacted with a collective shrug.

“The forecast therefore remains one of uncertainty.”

Alex also felt that lenders would still continue to place value and trust into well-structured property development schemes despite the uncertainty.

“Although this is not an argument for complacency, neither is it one for panic.

“Rather it is important that lenders continue to keep calm and carry on, providing a much-needed cool head in an atmosphere of conjecture and unpredictable ‘what-if’ scenarios.”