'Confidence will return' to commercial property mortgage market

25 November 2009

Written by Jeni Browne

Taking out a commercial mortgage now could be "a very sound investment" for a number of people, it has been suggested.

According to British Property Federation media manager Andrew Teacher, the rise back to normality in the commercial property sector could be as sharp as the decline that has just been experienced.

"The thing is we had a recession caused by a downturn in the financial sector of the economy, not the economy as a whole as we had in the early nineties," he explained. "The rest of the economy now, in this country, is in pretty good shape."

Confidence in the commercial sector, which includes business mortgages and other financial products, will return at some stage, Mr Teacher added.

Earlier this month, British Land chairman Chris Gibson-Smith said that there have been "encouraging signs" in the commercial property market recently, but not all sectors have stabilised yet.

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