More than three-quarters of brokers said they will complete more bridging in 2015 than last year, according to the latest survey from United Trust Bank.
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div>More than three-quarters of brokers said they will complete more bridging in 2015 than last year, according to the latest survey from United Trust Bank (UTB).
It marks the fourth year in a row that the majority of brokers have been positive about their full-year performance.
Despite the upbeat response, UTB believes that more brokers need to be open to the idea of recommending bridging finance to their clients.
Alan Margolis, Head of Bridging, said: “At UTB we continue to build the widest possible distribution for our bridging loans [and] we work with mortgage brokers who are bridging loan specialists or have an intimate knowledge of the sector, as well as those who have never completed a bridging loan.
“However, I believe that we only deal with a modest proportion of the 15,000 or so mortgage brokers, IFAs and tied advisers who, during their interactions with clients, may find themselves in the right circumstances to suggest to their clients that they consider a bridging loan.
“The fact that most advisers don’t generally consider bridging loans remains our greatest challenge moving forward and the continued growth of the bridging sector depends on greater numbers of intermediaries being more confident to add bridging loans to their everyday advice toolkits.”
20% of brokers who responded said they expect to do the same amount of business this year compared to 2014, with just 2% believing they will do less.
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