Over half of brokers express post-Brexit optimism

Over half of brokers express post-Brexit optimism




More than half (56%) of brokers are positive about the UK's future following the EU referendum result, according to United Trust Bank's (UTB) latest broker survey.

The survey of over 300 asset, bridging, mortgage and development finance brokers did, however, find that 31% of brokers were worried about the future of the UK, while 13% didn’t expect much change.

The news follows UTB’s last broker survey that found 92% of brokers would vote exactly the same way on Brexit.

The latest survey found that just under half (49%) felt Brexit wouldn’t affect their business much, while 32% felt there could be a negative impact with just 19% expecting a positive result for their business.

Harley Kagan, managing director of UTB, said that although there had been some immediate implications, a lot of the Remain campaigns predictions had yet to materialise.

“Although we are still at the very early stages of extricating ourselves from the EU, and Article 50 is yet to be triggered, there is a definite sense from the majority of the industry that for most lenders, brokers and borrowers, for the time being at least, life goes on.

“Although nearly one-third of brokers felt that Brexit would have a negative effect on their businesses, from UTB’s perspective we are still very busy and receiving a high volume of proposals into all divisions of the bank.”

UTB has recently joined the Funding for Lending Scheme and Harley pointed out that this meant it had funds to support growing businesses.

“As a result we have immediate funds available and a strong desire to support individuals, developers and businesses with the money they need to achieve their ambitions.

“Although there is still some uncertainty, there’s also opportunity, and whether investing in their homes and businesses, developing new housing or enabling a down-size with a bridging loan, UTB will continue to support customers and brokers, whatever the future holds.”

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