What we do

Property finance

This committee focuses on the key ingrediant of finance for the property industry.  The impact of the credit crunch and then the recession has been severe for the property industry.  The drop in commercial property values from their high in mid-2007 has been estimated at some 44% at its peak and this led many property companies to fall foul of banking covenants.  Consequently it is now difficultt to obtain property finance from traditional lenders, particularly in Scotland where the market is dominated by two major institutions with significant taxpayer ownership following the UK Treasury bank bail-outs.

Current issues include:

• trends in bank lending to real estate
• availability of development finance
• the Independent Banking Commission
• new innovations in funding infrastructure
• liaison with the Bank of England's Scottish Agents
• financial regulation affecting the property industry

Chair:
Phil Miller, Miller Developments Ltd.