Lloyds Banking Group has confirmed its commitment to undertake £1bn a year in new lending.
Speaking at the Estates Gazette fourth annual Investment Summit, the lender’s managing director of commercial real estate, Stewart Taylor, said that the target exists on top of refinancing deals.
“Lloyds Banking Group is totally committed to the UK real estate market,” said Taylor. “Refinancing is being approached very positively and we are looking to put £1bn pa into the market place on top of existing refinancing criteria.”
He added that the bank wanted a greater range of debt in connection with clients.
Santander Corporate Banking managing director of regional real estate finance, Scott Stuart, added that the Spanish bank was in the position of being able to lend a “far higher figure than £1bn” because of its lack of legacy debt positions.
bridget.o’connell@estatesgazette.com
To access all EGi
news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
