Vision Project Working Group

After the October 2013 publication of its draft recommendations for A Vision for Real Estate Finance in the UK by the Real Estate Finance Group, CREFC Europe formed a working group chaired by Mark Nichol, Bank of America Merrill Lynch, to prepare a Response to A Vision for REF in the UK.

In May 2014, the Real Estate Finance Group published its final report and the project is now being taken forward under the umbrella of the Debt Group of the UK’s Property Industry Alliance.  CREFC Europe is part of the PIA and is involved in that process, so our voice will be heard.

In June 2017, a report was published setting out the results of research into alternative long-term value methodologies – a key milestone in taking forward recommendation 4 of the original Vision report.  The focus of this work was on developing a metric that can help lending institutions and indeed their regulators better manage property cycle (or vintage) risk.

Peter Cosmetatos was a member of the Real Estate Finance Group and the main author of its final report on behalf of that group. If you would like to know more about the Vision project or to be involved in influencing how particular recommendations are taken forward, please contact Peter on +44 20 3651 5696 or