Scotland on course for another independence referendum after surprise Brexit vote

Fears that the cost of mortgages would soar also intensified after agencies suggested they would downgrade the UK’s credit rating.

First Minister Nicola Sturgeon said that the result, which will see the UK exit the EU against the will of the majority of Scots, was "democratically unacceptable" and meant another vote was “highly likely”.

The SNP leader also called on the UK Government to transfer the legal right to hold a binding independence ballot to Holyrood.

But there were jubilant scenes across parts of England as Leave voters celebrated their victory.

Boris Johnson, the frontrunner to replace Mr Cameron as Prime Minister, predicted that the UK would remain a "great European power" and would find its “voice” outside the union.

Within hours, however, two of the main campaign promises – lower immigration and a hotly disputed disputed claim there would be an extra £350m a week to spend on the NHS – were disowned by high-profile Leave politicians.

Even as he resigned Mr Cameron sought to reassure millions about the effect of the vote, telling ex-pats on the continent and European citizens living here that nothing would change – at least immediately.

He also said that the Scottish, Welsh and Northern Irish governments should be involved in the negotiations over the UK’s exit.

But he refused to fire the starting gun on those talks, saying that would be for his successor, due to be elected by October .

Mr Johnson used a press conference to claim that the outcome meant that UK would not be “any less united”.

But as he was speaking Ms Sturgeon said that Scotland had spoken and it did not want to leave the EU.

"I am determined that we will do what it takes to make sure that these aspirations are realised," she added.

Patrick Harvie from the Scottish Greens, whose support the SNP needs to win a Holyrood vote calling another referendum, said a new referendum "must be on the table".

But that call was opposed by Scottish Labour leader Kezia Dugdale who said her party was not changing its mind on another vote “anytime soon”.

Conservative sources at Westminster also said that the “fundamentals” of the arguments about independence had not changed.

Scotland voted for Remain by 62 per to 38 per cent.

Across the UK as a whole, however, Leave won by 52 per cent to 48 per cent.

Both England and Wales voted for Brexit, while the result in Northern Ireland was closer than expected.

On a visit to Scotland US presidential hopeful Donald Trump, who has courted controversy for attacks on Muslims entering America, said that the outcome was a "great thing" and that the people of the UK had "taken back their country".

Announcing his resignation - just 13 months into leading his first majority Conservative government - Mr Cameron said it was "in the national interest to have a period of stability and then the new leadership required".

Minutes after his statement, Bank of England governor Mr Carney said that he was making £250 billion available to help stabilise the economy.

In the initial aftermath of the result banks were particularly hard hit, with RBS down around 30 per cent.

Analysts later suggested that the stock market chaos could mean RBS and Lloyds Banking Group remain part-owned by the taxpayer for years to come.

RBS was bailed out with £47bn of taxpayers' money at the height of the 2008 financial crisis and the public still own more than 70 percent of the bank.

Overnight Ukip leader Nigel Farage had came close to conceding defeat for his camp, admitting he believed that Remain had "nicked it" and vowing to fight on for withdrawal from the EU .

But after votes piled up for Leave he hailed an escape from the EU which had been achieved "without a single bullet being fired".

Meanwhile, Labour MPs called on Jeremy Corbyn to resign, accusing him of a lack of “leadership” in the campaign which saw millions of its supporters reject its message to stay in the EU .