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Most brokers expect to grow over next 12 months, says UTB

26/06/2018

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62pct of finance brokers expect their business to grow over the next 12 months, new research by United Trust Bank has found.

United Trust Bank’s most recent Broker Sentiment Poll asked brokers operating predominantly in the and asset finance, bridging, development, and structured sectors how they expected their businesses to perform over the next 12 months. The response was broadly positive with nearly two thirds of brokers expecting their businesses to grow.

These latest results appear to indicate that broker confidence has increased slightly since the start of 2018.

Broker business growth outlook

 

We are likely to grow our business over the next 12 months

62%

We are likely to remain around the same size over the next 12 months

32%

We are likely to reduce in size over the next 12 months

6%

In a similar UTB broker poll carried out in December 2017, 56pct of brokers predicted that 2018 would be a good year for their businesses and a further 35pct expected it to be ‘steady’. The remaining 9pct were concerned that 2018 could be a difficult year for them.

Harley Kagan, Group Managing Director, United Trust Bank, said, “It is hard to believe that we are half way through 2018 and less than a year from Brexit. It’s encouraging therefore to see that most brokers are expecting to grow their businesses over the next 12 months despite continued uncertainty surrounding our future relationship with the EU and something of a change of mood in the residential property market. Like us, many brokers are seeing opportunities in the challenges.

“UTB has enjoyed a very successful first six months of the year and we continue to grow in several respects including lending volumes and headcount. Our outlook is positive too. We now have more BDMs and originators than ever, introducing a variety of UTB products and services to brokers and customers across England, Scotland and Wales.

“We assure brokers that if they are looking to fund opportunities for their customers, our book is always open for good quality business.”


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