Property crisis sees Bank of Ireland reins in commercial lending
telegraph.co.uk/money/main.j … ish108.xml
By Helen Power and Richard Fletcher
Last Updated: 1:59am BST 08/07/2008
The Bank of Ireland has slashed commercial lending, telling some British customers it has shut its doors to new business for three months.
The bank has been one of the most aggressive lenders to the UK property sector and its decision to limit funding will have repercussions for struggling developers looking for already limited finance.
