04.06.2009 - The UK's GBP243 bln property loan time bomb
From Europe-re.com: The latest edition of the annual Commercial Property Lending Survey conducted by De Montfort University (Leicester, UK) is now available and confirms the impact of the credit crunch on the property lending market. A headline increase of 10% in the total amount of outstanding loans to commercial property (from £220.4 billion at the end of 2007 to £243.3 billion at the end of 2008) – which was caused largely by the calling down of previously committed facilities and the restructuring (extension) of existing loans – belies a substantial fall in new lending, down 41% in 2008 compared with a rise of 3% in 2007.........Full Article: Source
Print