Exclusive: 34% of brokers concerned by financial market volatility
By Tom BelgerOver a third of bridging, mortgage, development finance and asset finance brokers fear that volatility in the financial markets could be detrimental to their business
The results come from United Trust Bank’s (UTB) latest broker survey, which also revealed that 38% of brokers had reported a busy start to 2016.
The brokers were also cautious over the future of the UK economy during the next three years with 63% predicting it would remain ‘fair’.
“The EU referendum is just weeks away and uncertainty over the outcome is bound to cause some people to wait for the result before making important decisions about their businesses or their own finances,” Harley Kagan, Managing Director of UTB, stated.
“A vote to leave the EU could have repercussions for the UK economy for many years to come.
“But whatever the nation decides, SMEs, developers and homeowners will still need funds to invest in their businesses and their homes, and we will be here to support them.”
Harley was encouraged that generally most brokers have had a positive start to the year and said it reflected what UTB had seen.
“Our asset finance division has been particularly busy, with business volumes in the first quarter of 2016 80% higher than in the first three months of last year.
“Our mortgages business has also had an exceptional start with volumes doubling since the start of the year.”
Keywords: Bridging Finance, Commercial Finance, Bridging Lender, Commercial Lender, Alternative Finance, Broker news, Bridging loans, United Trust Bank, UTB, Development Finance Broker, Bridging Brokers