Property financers no longer mesmerised by mezzanine

The use of mezzanine funding has drop dramatically as the lenders have turned off the supply of money. Mezzanine development funding, used to ?top up? undercapitalized property development deals, has long been the life blood of developers, who have great deals but have already committed their own funds to other projects.
This might allow a developer to at least achieve some of the profits lock into a development that they may otherwise not be able to get funded. There is a great deal of risk for the lender, although they may take charges on the development or other assets, in a market that is not raising the risks are high. This is why many mezzanine funders will charge up to 50% of the funds they lend, which usually takes a large profit slice. So as the market has cooled, the availability of this type of funding has greatly reduced, now many are calling the bottom, will we see more inventive funding structures return?