Lloyds leads in property deals
Lloyds Banking Group is predicted to be behind almost one-sixth of all property deals in the UK this year as it expects to have sold about £4bn of property by the end of 2010.
Lloyds, the largest lender to commercial property with almost a quarter of the 250bn of outstanding debt, has formed a 425-strong business support team, headed by Richard Dakin.
This is managing down a vast book of property loans made during the boom, in part by HBOS, which Lloyds bought in September 2008.
The sales have come from borrowers needing to repay loans to the bank's 30bn troubled real estate debt division, or through putting properties into administration.