Barclays to issue more commercial mortgages

29 September 2010

Written by Michael Aglony

Barclays Bank is to increase its lending of commercial mortgages after reducing its exposure to the assets to minimise the effects of the global financial downturn.

The institution's business loans were valued at £6.13 billion at the end of June this year and head of the firm's real estate department Brendan Jarvis told Reuters it planned to raise this figure by targeting smaller companies.

Fiona Freeman, head of the organisation's real estate corporate loans business, was quoted by the news provider as saying: "Now is the opportunity for us to look to develop new relationships with those clients who are feeling nervous or let down when dealing with our competitors."

Mr Jarvis explained the firm would attract smaller investors by lending at levels as low as £3 million.

People seeking commercial mortgages may receive high returns, as investment manager at Equilibrium Asset Management Mike Deverell recently told City Wire UK commercial property was "appealing".

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