Lending falls despite loans scheme

UK banks’ exposure to real estate slid in the third quarter, as a percentage of total lending, Jones Lang LaSalle said yesterday, despite the government’s Funding for Lending scheme that intends to boost loans. Real estate lending fell to 8.4 per cent of the total in the period, the firm said, the lowest level since 2002, after real estate lending dived 8.1 per cent compared to a year ago.