UTB: Brokers back Brexit

UTB: Brokers back Brexit




Britain's membership of the European Union (EU) remains on a knife edge after research revealed that finance brokers are divided almost equally over the decision to leave.

A United Trust Bank (UTB) survey of 150 bridging, development finance and mortgage brokers showed that 50.7% would vote to leave, with the other 49.3% opting to remain.

Harley Kagan, Managing Director of United Trust Bank, said: “It would appear that the finance broker community are just as divided as the general public when it comes to the European Union.

“With just one month to go before Great Britain makes the biggest decision about its future in nearly 50 years, the results of this poll add to the uncertainty.”

However, despite the option to leave slightly outpolling the remain faction, 31% saw a Brexit as a negative, while only 21% thought it would have a positive effect.

Meanwhile, 48% of respondents thought that leaving the EU would have no effect on their business at all.

Harley suggested that businesses required more information before committing to either side.

“There have been conflicting arguments from both sides on how the UK economy will fair if the ‘Leave’ vote wins, but whatever the result, it will be good to have some clarity over what lies in store for the UK so that decisions which have been put on hold pending the outcome can be taken.

“Many people are adopting a ‘let’s wait and see’ attitude at the moment, which is leaving many businesses in limbo.”

Founded in 1955, UTB offers a range of financial services, including bridging loans, specialised mortgages and deposit accounts. 

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