The latest United Trust Bank broker survey revealed that 83% of brokers were feeling positive about the outlook of their business, with 38% being ‘very optimistic’.
Harley Kagan, Managing Director at United Trust Bank, said that although there was speculation about what effect the general election might have on business and the property market, brokers still felt optimistic.
“Whilst the possibility of a ‘mansion tax’ may have contributed to a slightly lower demand for higher value properties in the early part of the year, it’s clear from our own experience, and that of the brokers who took part in this survey, that the election had little or no effect on business levels and that the vast majority of brokers were once again feeling optimistic about their prospects for 2015,”said Harley.
The survey also asked when brokers expected to see the first increase in the Bank of England base interest rate, with 69% indicating it would come in the second half of 2016 or later.
“In an environment of low interest rates and low inflation and with a Government committed to supporting business and home ownership, the next few years should present great opportunities for SMEs, developers and brokers,” added Harley.
“I am confident that 2015 is going to be another successful year for the Bank and its broker partners.”
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