UK Loans In Breach Or Default Top £7B

Barchart · 10/16 15:54
The volume of UK real estate loans in default or in breach of covenants reached £7.3B at the start of the second half of the year as elevated interest rates continued to put pressure on borrowers.  Some £3.7B of loans were in default and a further £3.6B in breach, according to the Bayes Business School’s Mid-Year 2024 Commercial Real Estate Lending Report. That default figure equates to 4.9% of all outstanding UK real estate loans — up from 4% at the end of 2023 but still well short of the 2010 peak, when 25% of all UK real estate loans were in default. Loans...