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Rutherford has released its 2025 Real Estate Finance Market Overview which provides an analytical assessment of the London real estate finance market and the legal hiring activity supporting the sector. The report examines how elevated funding costs and valuation uncertainty are reshaping transaction activity ahead of the 2026 refinancing cycle.
Drawing on proprietary talent mapping and market data, the publication highlights how higher interest rates have shifted the market away from new loan origination toward amendments, restructurings and selective private credit deployment. The refinancing cycle expected to culminate in 2026 is presented as the most material driver shaping capital allocation and valuation resets over the next 12–18 months.
The overview also captures legal talent market trends across UK and US platforms. In 2025, 138 recorded lateral moves occurred within real estate finance, with activity peaking in Q1 and early Q4, consistent with strategic hiring cycles and end-of-year workforce planning. Demand remained concentrated within mid-career PQE bands, reflecting firms’ preference for associates who can contribute immediately to complex mandates and refinancing execution.
The full Real Estate Finance Market Overview is now available for download and includes detailed commentary on the 2026 refinancing cycle, private credit deployment, and hiring patterns across the sector. For further information or access to sector briefings, please contact one our Private Practice team.

