German banks are the main lenders for large new deals in UK commercial property, according to a ranking compiled by property consultant Savills. Of the top 12 lenders identified by Savills, eight are German banks, the firm said on Tuesday.
German banks are the main lenders for large new deals in UK commercial property, according to a ranking compiled by property consultant Savills. Of the top 12 lenders identified by Savills, eight are German banks, the firm said on Tuesday.
The results are based on a survey of over 100 global lenders, of whom over 40 claim to have an appetite to lend to UK property, albeit on varying terms. Many financiers are willing to lend to existing customers only, Savills found.
The scale of lending has also changed dramatically in the past 18 months. Whereas in 2007, a 'big ticket' deal was £100 mln-plus (EUR 111 mln), Savills has reduced this definition in 2008 to £50 mln-plus. Today, only 12 lenders will consider deals above £25 mln.
The 12 lenders in the 'big ticket' category are:
Abbey
BLME
Deka Bank
Deutsche Postbank
D G Hyp
Helaba
Landesbank Berlin
LBBW (Stuttgart)
Munich Hyp
Nationwide Building Society
Société Générale
West Immo
