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Influx of lenders flocking to Britain | 07 June 2013

Britain could be set for a property lending boon if recently-published forecasts prove to be accurate, egi.co.uk reports.

New research from Savills found that as many as 50 new lenders could enter the British commercial property market in the near future. Furthermore, of this 50, 47 (94 per cent) are large-scale lenders that are said to be able to offer loans of £100 million or more.

The forecasts were presented at Savills’ 25th annual financing property conference in London. It also noted that many of the new deals are expected to be centred around London, although did note that this could cause detriment to the regions whilst also making firms miss out on what could otherwise be solid investment opportunities.

This was also said to be the case for older properties, which Savills claimed were being ignored in favour of new builds, despite appearing to be a rather lucrative option.

Despite these forecasts, figures published by the DeMontford University found that 70 per cent of existing loans secured on property did so outside of London. In real terms, this equates to around £198 billion in loan value.

Looking at just the last year alone, total new commercial property lending reached £32.4 billion during 2012.

Commenting on the market, Savills’ senior director, William Newson, told pie-mag.com: “Lenders need to look beyond immediate cash flows and rediscover the joys of the regions and good secondary product as much of it remains underpriced and can offer better security in terms of future growth and value.”

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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