The latest broker sentiment poll by United Trust Bank (UTB) revealed that 19% of commercial brokers believed that securing the lowest rate was most important factor.
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Other highlights from the poll included:
- 18% thought that certainty of funding was the main priority of borrowers seeking short-term funding, followed by maximum gearing (13%) and speed of initial decision (4%)
- property development was viewed as the sector that currently saw the most demand for short-term funding, followed by property refurbishment/conversion, residential investment purchases, refinance of existing bridge and HMO acquisition and/or refurbishment
“It’s interesting that although a majority of brokers indicated that a quick completion is the most important factor for borrowers when placing a deal, in reality UTB [is] often the party waiting for the customer to trigger the drawdown of the loan,” said Gavin Diamond, commercial director of bridging at UTB (pictured above).
“Lately we’ve noticed that the time between initial proposal and drawdown is now greater than it has been for a long time.”
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