A survey of 36 lenders has found that the level of senior debt available to the UK commercial property market could reach £36 billion in 2013, a yearly increase of £8.7 billion.

The findings from the Association of Property Lenders (APL) and the Investment Property Forum (IPF)’s Real Estate Lending Forum (RELF) state that this figure will be comprised of £23.11 billion of new lending, £8.57 billion of refinancing and £3.76 billion on loan restructuring.

17 of the respondents said that they will increase their 2013 lending by more than 50 per cent of last year’s.

It also evidenced that a combination of new lenders offering development funding and overseas investors could also contribute to the upturn in the UK property market, yet this is likely to be focused on prime London and South East locations.

According to the survey – collated in the six weeks to 8th February 2013 - the level of senior debt provided by the lender contributors currently stand at an average 66 per cent LTV.

A third of the survey’s respondents said that they would be prepared to offer development funding up to a combined £4 billion and alternative lenders could provide up to 16 per cent of the target for 2013.

Chairman of the RELF, Max Sinclair, did however note that while these figures are on the whole optimistic, the lenders providing the liquidity appear to be “chasing” the same deals with similar lending appetites.

He said: "What the market now needs is for a few of the indigenous new lenders to step in with more meaningful amounts of capital so that some deal momentum can be gained.”