MIPIM 2009: Biggest lenders to UK property revealed

The 12 largest lenders claiming to be open to new business for UK property have been revealed by London-based property services firm, Savills. Two thirds of them are German.

German banks are the group most ready and able to finance investors in UK property, according to research unveiled at MIPIM.

The property services firm Savills said that only 12 lenders out of 100 global lenders were willing to consider deals above €25 million. Making it onto the list of 12 are 8 banks from Germany.

The full list of 'big ticket' lenders is as follows; Abbey, Landesbank Berlin, BLME, LBBW (Stuttgart), Deka Bank, Munich Hyp, Deutsche Postbank, Nationwide Building Society, D G Hyp, Société Géneralé, Helaba, and West Immo.

William Newsom, head of Savills UK valuation business said in a staement that he knew of at least half a dozen other lenders who may also make the list, but the level of actual loans committed was variable. “The UK is immensely attractive to lenders and investors due to a repricing of property and currency value changes,” he said. Many of the big banks are out of the market due to their exposure to toxic assets, he added. “However there are good returns to be made from lending secured against good quality assets, and those lenders are taking advantage of the changed market situation.”