Commercial mortgages 'more available to those buying in London'

09 May 2011

Written by Simon Whittaker

Commercial mortgage lenders are more interested in dealing with people buying prime property in London.

This is the opinion of director at Hatfield Philips Dr Stewart Hotson, who wrote in an article for the Mortgage Finance Gazette that the situation in central London is very different from the rest of the country.

"Describing the commercial property market as a 'market' … is misleading," he argued.

"In reality, there are only two markets: London Prime and everything else," the expert explained.

Not only is it just property in the capital that is seeing a buoyant recovery, but this strength in the sector is seen in certain parts of the area alone, including the West End and the City, he continued.

Lenders, Mr Hotson argued, are primarily interested in the real estate in places like these.

His comments follow more optimistic ones from managing director at Phoebus Software Paul Hunt, who claimed that a rise in hiring levels among commercial mortgage providers could show that the market is picking up.

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