Oct
16
U.S. Banks Slashed Share of British Property Loans Before Brexit
ByNorth American banks cut their share of U.K. commercial-property lending by half ahead of the referendum on European Union membership as uncertainty about the vote and a cooling market damped demand for real estate.
U.S. banks and Canadian lenders’ market share dropped to 7 percent from 14 percent in the first six months, according to a survey of 78 lenders by De Montfort University that was published Monday. U.K. banks and member-owned lenders advanced 44 percent of all new loans, a 10 percentage point increase on the previous six months, the report by the Leicester, England-based university estimates…
U.S. Banks Slashed Share of British Property Loans Before Brexit
