Harley Kagan

51% of brokers expect to exceed 2018 targets

Over half of property and asset finance brokers (51%) expect their 2018 business results to be either “good” or “excellent”, according to new research.

United Trust Bank’s (UTB) latest broker sentiment survey found that 35% of respondents described their performance in 2018 as “satisfactory”, while 14% rated their year as “poor” or “terrible”.

Looking at the business you’re likely to complete this calendar year, which of the following best describes your 2018 business performance?

The survey also asked brokers whether they were forecasting growth in their businesses next year, and, if so, what level of growth they were aiming for.

Some 30% of brokers said that they would be looking to maintain the levels of business achieved in 2018, while nearly a quarter (24%) said that they were aiming to grow their businesses in excess of 20% next year.

Just 8% of brokers expected their business volumes to contract in 2019.

Harley Kagan, group managing director at United Trust Bank (pictured above), said that 2018 hadn’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.

“It is, therefore, pleasing to see that more than three-quarters of brokers operating across the property and asset finance sectors have either achieved or surpassed the targets they set themselves at the start of the year.

“We should know in the next few days whether the government’s proposed Brexit deal with the EU will be accepted by parliament, but at the moment, it appears to have few fans in Westminster.

“It’s perhaps unsurprising then 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.”

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