Speaking at the Association of Short Term Lenders’ annual conference in London today Stoneman said he would be “surprised” if any lenders continued to lend north of the border in the short-term.
He said: “We could see some serious impact on the market as it creates an uncertainty about the future.
“The risk of rising interest rates in the event of a yes vote could have a serious impact on both sides of the border.
But Norman Chambers, deputy CEO of the NACFB, said it could provide lenders with a chance to take a look at the bigger picture.
Chambers said: If the decision is yes then it is a chance for us all to take stock. But there remains a danger that some may make rash decisions.
“However I am sure lenders already have their contingency plans in place.”