Banks prepared to lend significant amounts for real estate investment almost doubled in the past six months owing to more favourable funding conditions.
There are now 23 lenders prepared to lend more than £20m for property investment, according to Savills and about six willing to lend more than £100m to the sector.
This marks a rapid change in stance in the banking sector, with many lenders averse to property at the beginning of this year when prices were in freefall. The stabilisation of finance markets has seen lenders look to take advantage of the recent recovery in real estate.
In March, Savills found that only 12 lenders were willing consistently to back deals of more than £25m in the UK market, of which eight were German.
Financial Times, The Times, Daily Telegraph