The troubled economic environment has not changed Royal Bank of Scotland’s property deleveraging strategy, according to restructuring group boss Lorna Brown.
Speaking at the Estates Gazette Distressed Property Summit, Brown, who is RBS’s head of UK real estate restructuring, said that “the backdrop has changed…but has the strategy changed? No.”
She added: “We continue to look at borrowers and loans and our positions…and make decisions based on analysis of [factors including] business plans and cash flow, and the decision is not taken in isolation of the changing economic background.”
Lloyds’ head of solutions, Andrew Wilson, agreed, saying that on a case-by-case basis, it is necessary to adapt to changing circumstances.
bridget.oconnell@estatesgazette.com
