The lender’s survey – which asked brokers to indicate what they thought would happen in the weeks following the triggering of Article 50 – found 23% of brokers correctly predicted that the value of sterling would appreciate.

The rise increased still further when Theresa May called a snap general election to take place on 8th June.

The survey found that 98% of asset and property finance brokers did not expect Mrs May to make such an announcement.

“Although a snap general election will put the brakes on any further Brexit negotiations for another six to seven weeks, entering separation talks with a clear election mandate and longer term of government could strengthen Mrs May’s hand and help the prime minister to achieve the Brexit outcome she desires,” said Harley Kagan, group managing director of UTB.

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A previous UTB survey carried out in January found that 48% of brokers had confidence in Mrs May and her cabinet, while 71% were in support of getting on with the business of leaving the European Union.

“Although a general election might normally add yet more uncertainty, a firm majority for Theresa May and the Conservative Party could bring more certainty for the UK sooner than expected,” Harley added.

“That’s something which would be welcomed by many businesses and individuals who still have no firm idea of what life outside of the EU is going to look like.

“At UTB, we’ll continue to work closely with brokers to ensure that whatever happens on June 8th we’ll support the aspirations of developers, SMEs and individuals and enable them to seize the opportunities that change often brings.”