Banks continue commercial property lending

The majority of the country's largest financiers are continuing to lend money to commercial property buyers to help keep the market afloat.

Research by Savills has shown that while eight lenders are refusing to fund investors in business real estate, 89 banks are still willing to review applications for commercial property loans.

And experts have welcomed the lending practice of the majority of banks, claiming that the approach has helped the struggling market and helped it be re-valued more swiftly, the Telegraph reports.

A specialist told the publication: "In the early 1990s, it took two years for the market to re-price. This time thanks to greater transparency from indices and pricing, it's taken six months."

Meanwhile, a new commercial development set for Wigan could create up to 60,000 square feet of new facilities for businesses in the north west.