05.06.2009 - Most UK property lenders unable to shrink loan books
From Reuters: Most lenders to Britain's investment property market will be unable to shrink troublesome loan books for the foreseeable future, despite much of this debt being under water, property services firm Savills said. At its annual property financing presentation on Wednesday, Savills (SVS.L) estimated 50 billion pounds ($83 billion) out of 280 million pounds of loans arranged in the market's 2004 to 2007 boom, are now worth more than the underlying properties.........Full Article: Source