The survey by United Trust Bank – carried out among 108 brokers – found that 61% of brokers operating in the fields of property and asset finance also felt a base rate increase would stifle SME investment.
Some 28% of respondents felt that a base rate of 1% would have little to no effect on the residential property market and 37% believed a base rate of 1% would have little to no effect on SME investment.
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Noel Meredith, executive director at United Trust Bank (pictured above), said: “Although the MPC voted 9-0 in favour of the recent 0.25% increase to the base rate, market sentiment had actually been in the ‘hold’ camp until quite recently.
“With housing remaining structurally under supplied, a healthy retail mortgage market and demand-side initiatives such as Help to Buy assisting purchasers at the bottom of the housing ladder, we believe there is plenty to be positive about, even with another base rate increase factored in.”
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