COMPANIES The value of UK commercial real estate debt in default or in breach of key lending agreements more than doubled to about £30bn in the first six months of the year, adding pressure on the banking sector, a survey has revealed.
Banks have also extended or refinanced an extra £16bn in the first-half of the year, rolling over maturing debt that could not be paid back by cash-strapped borrowers or restructuring loans when breaches were threatened owing to the steep fall in values.
