Mortgage brokers upbeat about growth prospects

Business-Finance-General-Paperwork-Calculator-Investment-700.jpgSix out of 10 mortgage brokers expect their business to grow over the next 12 months, despite a slowdown in the property market and potential Brexit headwinds.

The survey, by United Trust Bank, shows that confidence has increased since the start of 2018.

In total 62 per cent of brokers surveyed said they were likely to grow their business in the next year with 32 per cent expecting their business to remain the same size. Just 6 per cent of brokers surveyed said they were anticipating that their businesses would shrink in the year ahead.

A similar poll at the start of the year found just 52 per cent of brokers were expecting business growth in 2018, and 9 per cent were anticipating a slowdown.

United Trust Bank said this selective sample of brokers surveyed mainly operate in the bridging, development, structured and asset finance sectors.

United Trust Bank’s group managing director Harley Kagan says: “It’s encouraging to see that most brokers are expecting to grow their businesses over the next 12 months despite the continued uncertainty surrounding our future relationship with the EU, and something of a change of mood in the residential property market.”

He says it was clear that brokers were seeing opportunities in these challenges.

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