After the events in the financial markets of 2008-9 which led to the Great Recession and where many banks effectively stopped lending into a property development project which had the slightest degree of risk attached, the recent Brexit vote has left many property investors and developers wondering whether history might be about to repeat itself.
After all it's only been in the last few years that lending outside the London M25 region has seen a more favourable stance being taken on the more speculative development schemes.
Many traditional lenders who were over-exposed to the downturn in commercial property and those who had provided development finance on residential projects, were slow to return to the marketplace from 2009 and in their continued absence new lenders and the emerging challenger banks stepped forward to lend.
Further sources of funding have come from a range of overseas banks who could see many new financing opportunities arising as the UK economy recovered from the downturn and while some traditional lenders were 're-capitalising' and licking their wounds. And of course we have also seen the emergence of the peer to peer lending sector with crowd funding increasingly taking centre stage for smaller project funding.
In the residential buy to let sector, the well documented downfall of Mortgage Express in 2008 was quickly forgotten as an appetite to lend on buy to let became apparent from 2009 as many lenders saw an opportunity to gain exposure to a sector which had proved its resilience to adverse circumstances.