Economic bounce-back and avoidance of high unemployment is key for most brokers' success

Over half of brokers (55%) believe an economic bounce-back and the avoidance of high unemployment will be most critical to the success of their business this year, according to the latest broker sentiment survey from United Trust Bank (UTB).

Some 22% of the 130 property and commercial finance brokers who took part pointed to the continued success of the Covid-19 vaccination programme as most important to their performance for the remainder of 2021. 

Other factors included the continued support of the property market and SMEs by the government, overcoming Brexit challenges, and the ability to recruit high calibre staff.

In addition, a staggering 88% of brokers declared that they were ready to respond to a post-pandemic boom fuelled by government spending and pent-up consumer demand. 

However, just 6% indicated that they were still regrouping, while the remaining 6% didn’t expect to see a boom.

“Although the UK economy still has some way to go to regain its Covid-19 losses, it does at least appear to be growing, and there’s certainly plenty of activity in the specialist finance market,” said Mark Stokes, chief commercial officer, at UTB (pictured above).

Consequently, the bank is experiencing high levels of enquiries and new business completions across all divisions, including bridging, development, structured, mortgage and asset finance. 

“Records are being broken and reset on a regular basis and, like the majority of brokers, we believe we’re very well placed to respond positively to a post-pandemic boom,” Mark added.

“I’m delighted that UTB’s continued investment in technology and people is enabling us to support brokers as they assist property developers, investors, SMEs and individuals in seizing opportunities to recover and grow as we emerge from the tight grip of the pandemic.”

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