This is the warning from Jon Salisbury, managing director of Ortus Secured Finance, who believed that last year’s unexpected turn of events could unsettle the market during 2017.

“While 2016 witnessed some major shocks, the fallout will occur during 2017 and beyond,” Jon argued.

“Until events start to crystallise, the current sense of uncertainty seems set to remain, and this doesn’t feel good for business investment and consumer spending.”

Mrs May has announced plans to invoke Article 50 before the end of March 2017

Jon’s sentiment was echoed by Benson Hersch, CEO of the Association of Short Term Lenders, who suggested that triggering Article 50 could extend any shockwaves caused by last year’s EU referendum.

“Brexit uncertainty will continue to drive these changes, with mainstream banks still nervous about lending.”

Last month, credit specialists Fitch Rating claimed that uncertainty over Brexit negotiations had left the UK banking sector’s outlook negative.

In addition to this, Benson highlighted the potential for changes to stamp duty land tax (SDLT) and landlord tax relief to further unsettle an already cautious market.

However, Ashley Ilsen, head of lending at Regentsmead, warned that events such as the election of Donald Trump and the decision to leave the EU should not be allowed to hold sway over the specialist lending sector.

Donald Trump's inauguration is scheduled for 20th January 2017

"It’s easy to get distracted by the influences of Brexit and Trump, which everyone will no doubt have a close eye on in 2017.

“However, these will only be the main drivers if we let them.

•   64% of businesses negatively impacted from Brexit vote
•   Banks under pressure to control costs in 2017
•   Four out of five SMEs confident about 2017

“We may well start to see an upward trend on inflation, which will have some knock-on implications, but I don’t think this will be until Q3 and Q4.

“Until then, I think it will be more of the same with the lenders who do the basics well and don’t get pressured into unnecessary risks continuing to thrive.”

Similarly, Matthew Tooth, chief commercial officer at LendInvest, proposed that changes to the buy-to-let market could actually benefit more established landlords.

“There’ll be more opportunity … for bridging deals in the residential landlord space for professional investors.

“The impact of tax changes still to come will create less competition for the professionals as more amateurs exit the market.”

'New entrants to the market are expected'

Despite his misgivings about the wider market, Benson agreed that the short-term lending space could remain relatively unaffected by the winds of change.

“…On a more positive note, a lack of alternative investment will continue to encourage investment in terms of residential property, despite recent SDLT and tax changes. 

“…It is likely that the number of transactions will remain steady throughout 2017, as interest rates remain low and demand for housing continues to outstrip supply.

“…The outlook for the bridging market is fair and new entrants to the market are expected.”

Matthew concurred, adding: “We should expect to see more deals completed by borrowers and brokers new to the bridging market’s proposition.

“This will come as the best funded bridging lenders adjust their models to offer more bespoke products and terms beyond 12 months, and as the reputation of bridging expands among brokers looking to alternative funding options to fit their clients’ requirements.”

And just as challenger bank Aldermore reported that some 82% of SMEs were confident about their business prospects for 2017, Jon also expressed optimism over the future of the commercial market.

“…We’ve always believed that quality investors and operators will do well whatever the state of the economy, so although the dangers may be greater, we see plenty of opportunity.”