Developers Face New Regulations

The FT reports that UK commercial property developers are facing far higher costs and may have to scrap projects outside London because of new capital rules being imposed on banks by the FSA.

It comes after the regulator announced plans to enforce a method of “slotting” – where banks categorise their property loans into one of four levels of risk – in a bid to improve financial stability. Property companies have insisted the move will increase the gap in values between buildings in London and those in the regions.

Source: Financial Times

We say: Our advice would be: Property Companies: check the dates of your upcoming loan/facility renewals and get them sorted now before the slotting regime comes into play…you don’t want to be one of the first “computer says no” cases just for the sake of a few months’ wait….

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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