UK property backers pulling out

More than a third of lenders who backed UK property have pulled out since 2007, according to a new report from CB Richard Ellis (CBRE). The property consultancy says there are 107 senior lenders with a commercial real estate loan book in the UK, but only 69 are still actively lending. The growing shortage of debt to the property sector is expected to get worse in the next year, with the introduction of Basel III rules on banking capital. CBRE predicts non-traditional lenders such as insurance companies will become more involved in the sector.