UK property debt falls to £207 billion in 2010 - study | Reuters
Irish bad bank NAMA helped UK lenders prune back the amount of commercial property debt held on their books by 21.4 billion pounds in 2010, barely easing the massive funding gap the asset class faces.
De Montfort University's UK Commercial Property Lending Market Survey showed on Friday that lenders held commercial property debts of 206.9 billion pounds on their balance sheets at end-2010, down 9.4 percent from 228.3 billion a year earlier.
The dip was the first recorded by De Montfort since 1999, when its annual report began.
Much of the fall was due to big transfers of bad commercial property loans to governments and their bad banks, including about 10 billion pounds moved to Ireland's National Asset Management Agency (NAMA), the report said.
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