Over half of brokers expect no-deal Brexit: UTB

A poll by United Trust Bank shows that 57 per cent of brokers asked cannot see a Brexit deal being agreed by 29 March.

In contrast, 31 per cent believe a deal can be achieved by the deadline unless an extension to the two-year Article 50 timeline is agreed.

Well over half, 62 per cent of the brokers surveyed, said they would not have voted for Theresa May’s original Brexit deal, presented on 15 January, which included the Northern Ireland ‘backstop’, while 22 per cent said they would have done.

United Trust Bank group managing director Harley Kagan (pictured) comments: “With less than two months until the UK must leave the EU under Article 50, it looks as though Brexit negotiations are going to go down to the wire.

“One side will have to concede some ground or risk a ‘no-deal’ Brexit, which all sides appear to agree would be the worst outcome for everyone.

“It’s worth remembering that the majority of businesses do not have a trading relationship outside of the UK.

“Although parts of the UK have seen a cooling of activity in the residential property market, there are areas experiencing a strong demand. The UK’s housing shortage will not disappear overnight,” he adds.

Recommended

Data-Corporate-Finance-Business-Pen-Graph-Growth-700x450.jpg

Broker sentiment for 2019 mixed: UTB

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 […]

Tolfree-Buster-2017

Exclusive: UTB enters first charge mortgage market

United Trust Bank has launched into the first charge residential mortgage market with what it’s calling a ‘mini-mortgage’ product. The second charge specialist has added a first charge product range that allows customers to release equity from an unencumbered property, with loans available from £5,000 to £100,000 and up to 75 per cent LTV. The […]

Finance 4 Business hires Investec’s Mike Kelly

Finance 4 Business has appointed Mike Kelly from Investec as senior business development manager. Kelly (pictured) was most recently a business development manager at the bank and was previously head of private at Yorkshire Bank. Kelly says: ‘Finance 4 Business is an experienced, successful and dynamic team looking to assist clients in providing lending solutions, be […]

Patient - thumbnail

Company sick pay – new findings

Research by insurer LV= suggests that some 11 million employees in the UK have no company-paid sick leave entitlement. So if an employee from within the above grouping cannot work through illness or injury for any period of time, their only income would likely be that provided by state benefits alone.

Newsletter

News and expert analysis straight to your inbox

Sign up