Chapter INTM518070
Published date | 09 April 2016 |
Record Number | INTM518070 |
Court | HM Revenue & Customs |
Issuer | HM Revenue & Customs |
Property played a major part in the crisis which started to affect the world’s economies in 2008-2009. Many of the large banks had large property-related debts on their books. This has and will continue to affect the property market greatly, especially as these debts come up for renewal or replacement.
As a consequence of the changing financial environment, property values dropped considerably, but have recovered to some extent. This may have led to some investors relaxing LTV covenant expectations for a period, though they would have expected interest cover to be maintained. It is perhaps fair to say...
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