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Growth in commercial mortgage industry
Reported on Fri, 05 May 2006
The UK market for commercial mortgages continued to thrive during the first quarter of 2006, new research suggests.
The quarterly Commercial Property Survey from the Royal Institution of Chartered Surveyors (Rics) found that in the first three months of this year demand for commercial mortgages for office premises grew by one-fifth.
Milan Khatri, chief economist at Rics, revealed that this rise was the biggest since the survey began seven years ago.
He attributed growth in the industry to the continued strengthening of the stock market and healthy state of the global economy.
According to Mr Khatri, "those in financial and business services" are experiencing a period of "of economic prosperity".
Overall, the commercial mortgage industry strengthened by two per cent, with more surveyors reporting a rise in business than a fall.
Business managers wishing to acquire new premises or simply expand could take out a commercial mortgage.
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