Banks are starting to increase the level of funding available to would-be pub buyers, according to specialist commercial mortgage broker, Christie Finance.
The company said that lending had been severely reduced over the last 12 months but that it had observed that banks are again becoming receptive and more flexible in their lending to pubs.
It said that while four deals were approved in the London area during the first quarter, this has tripled to 12 deals in the second quarter.
It also said it believed that licensees were becoming more used to the stricter lending criteria put in place, meaning more deals are gaining backing.
David Grant, head of UK business mortgages at Christie Finance, said: "It is fair to say that credit is easing up relative to the start of the year and that banks are being more receptive to lending to those looking to acquire a pub subject to status. Buyers are also more in step with the new lending criteria put in place by the banks, which is increasing the number of deals financed and completed.
"There are a significant number of pub deals still being financed, while there is also still a considerable amount of interest in doing deals, especially regarding freehold sites, whether they are at the top-end or bottom-end of the market."
However, Grant did confirm that it was still very difficult for first-time buyers to secure backing as banks favour experienced operators with proven track records. Since the onset of the credit crunch, some banks have chosen to stop lending to the leisure sector. Successful applicants are typically now able to secure up to around 70 per cent of the pub value compared to up to 85 per cent at the height of the property boom.