In our view, neither Government intervention in the banking sector nor quantitative easing (QE) is likely to alter the subdued outlook for commercial property lending. Not only will gross new lending flows be low, perhaps even zero, but lenders may also actively have to withdraw £30bn of debt from the market via not refinancing some loans or demanding more equity from borrowers.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.