Iain Thomas, Head of DWF’s Real Estate Finance team in London, provides comment.
It is two years since ‘A Vision for Real Estate Finance in the UK’ was drawn up by a cross-section of the UK’s real estate industry, led by the Investment Property Forum (IPF).
The intention was to help prevent the next – arguably inevitable – commercial real estate (CRE) crash from threatening the financial stability of the UK. Recommendations were made in May last year.
The group is motivated by its belief that a return to light-touch regulation typically coincides with the return of market over-exuberance. Putting a blueprint in place before the UK enters another downturn has been seen as paramount.