Aviva hits PFI lending limit

21 June 2012 Aviva Commercial Finance has reached its lending limit set by regulator the Financial Services Authority (FSA) and is currently unable to offer further PFI loans.
“The funding available through our commercial mortgages division is…restricted by FSA limits, determined by the level of capital held within our long term annuities business,” an Aviva spokesperson explained.

“We have now reached this lending limit. As a result, we are unfortunately unable to offer further Private Finance Initiative (PFI) loans at this time.”

The funder has approached the FSA in an effort to resolve the issue – but no timescale for any renewal of lending could be offered.

The spokesperson added that existing loans are not affected by the changes, while a number of loans where the projects are at preferred bidder stage will also be completed.

Aviva has been one of the most active lenders in the PFI market over recent years since the decline of the bank market due to the global economic crisis.

However, the Aviva Investors business, which is supporting the Hadrian’s Wall Capital fund that recently closed, is not affected by the changes.

This page was last updated on:
26 August 2015.

thumb

Corbynmania: The final nail in PFIís coffin?

As the Labour leadership frontrunnerís bandwagon continues to roll, his popularity offers another chance to attack privately financed infrastructure

thumb

In Scotlandís Future he Trusts

Heís the man at the top of the Scottish Futures Trust, but Sir Angus Grossartís roles, interests and experiences take him to the heart of all Scottish life.

register

Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...