Liam Brooke, co-founder of Saving Stream, said: “Mark Carney’s announcement is just what the property sector has been wanting to hear – the additional bank lending this should free up will help support the UK’s crucial commercial and residential property markets.”

“In the past two years, there had been a significant slowdown in lending for both commercial and residential property – especially for new developments – but this announcement should now get the banks to look again at property funding.”

“For banks, these regulatory capital constraints have meant that property funding just hasn’t been viable in the same way as it was prior to the recession.”

“Increased lending by banks is also great news for early stage financers of property and the bridging industry, because it should help to keep property prices buoyant. With many experts predicting a cut in interest rates in the coming months, residential and commercial property should also continue to be favoured as a high-yielding investment opportunity in the long-term.”

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