Commercial business declines 20%

Members of the National Association of Commercial Finance Brokers saw a drop of almost 20% in overall commercial business from June 2007 to June 2008.

Business volumes fell in commercial finance main-ly because of a 59% drop in buy-to-let business.

But members did see a 16% increase in commercial mortgage business, with deals placed jumping from 4.9bn to 5.7bn.

Adam Tyler, chief executive of the NACFB, says: “The results are not surprising. The figures are adam tylerit is hardly surprisingtaken from June 2007 to June 2008, so there would have been four to five months at the beginning of the period relatively unaffected by the credit crunch.”