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Residential development finance lending is on the rise in the UK, according to London-based real estate adviser Savills.

In the first half of this year, residential development lending has already exceeded levels in 2011 and is anticipated to exceed 2012, the adviser said. The findings are based on Savills' list of the top 12 lenders in the UK.

Over 45 lenders are willing to provide finance for residential development for both senior and mezzanine debt with UK clearing banks taking a 44% market share and other European banks 24%. Middle Eastern and Far Eastern lenders account for 7% and 3% of the market respectively, Savills said.

Commenting on the report, William Newsom, senior director of Savills valuation, said: 'We are seeing a significant appetite for financing in this area of property with competition in the core areas such as London. Margins are down, but nevertheless lenders are choosy. They regard it as vital that borrowers have a proven track record and are sufficiently financially sound as to be able to pick up any cost over-runs. Meanwhile, others have nationality preferences, whilst BLME and ABCI offer Sharia compliant lending suitable for customers from the Islamic world.'

Parties who have completed 10 or more loans above 拢10 mln (鈧�7.3 mln) over the last 12 months, or have made significant progress towards achieving that level of business include:

1. ABC International
2. Barclays
3. BLME
4. Cheyne Capital
5. Deutsche Bank
6. HSBC
7. LaSalle
8. Lloyds Banking Group
9. OCBC
10. RBS/Natwest
11. Santander
12. Urban Exposure


Andrew Brentnall, director of residential capital markets, adds: 鈥淒riven by strong macro market fundamentals and government stimuli, there is strong demand for access to the UK residential platform. Deals involving debt, equity, mezzanine and joint ventures are all taking place as well as more complex structures. Appetite for corporate deals has also increased with opportunities representing potentially higher returns.鈥�