United Trust Bank’s most recent broker sentiment survey found differing results from brokers on business performances in 2018 and growth expectations for 2019.
Over half of brokers, 51 per cent, operating in the property and asset finance sectors, expect to see good to excellent business results from 2018. However, 30 per cent anticipate no growth next year.
The study further outlines 35 per cent describing this year as ‘satisfactory’, with 14 per cent rating their year as ‘poor’ or ‘terrible’.
United Trust Bank group managing director Harley Kagan says: “2018 hasn’t been easy for many brokers. Uncertainty surrounding Brexit, a cooling of the residential property market and instability within the Government have all contributed to a challenging year.
“We should know in the next few days whether the government’s proposed Brexit deal with the EU will be accepted by parliament. It’s unsurprising that many brokers are looking to simply maintain their 2018 business levels or aim for modest growth in 2019.
“Whether or not you like the terms being offered, greater certainty will be warmly welcomed not only by the British public but by housebuilders, developers and SMEs across the UK.”
This comes after United Trust Bank conducted a survey at the back end of last month, which saw 42 per cent of brokers in the property and finance sectors, outlining they are not preparing for the effects of Brexit.