Confidence increases as a majority of brokers expect to grow their businesses over the next 12 months

62% of finance brokers expect their business to grow over the next 12 months, new research has found.

United Trust Bank’s most recent Broker Sentiment Poll asked brokers operating predominantly in the bridging, development, structured and asset finance sectors how they expected their businesses to perform over the next 12 months. The response was broadly positive with nearly two thirds of brokers expecting their businesses to grow.

Broker business growth outlook
We are likely to grow our business over the next 12 months 62%
We are likely to remain around the same size over the next 12 months 32%
We are likely to reduce in size over the next 12 months 6%

These latest results appear to indicate that broker confidence has increased slightly since the start of 2018.

In a similar UTB broker poll carried out in December 2017, 56% of brokers predicted that 2018 would be a good year for their businesses and a further 35% expected it to be ‘steady’. The remaining 9% were concerned that 2018 could be a difficult year for them.

Harley Kagan, Group Managing Director, United Trust Bank, commented:

“It is hard to believe that we are half way through 2018 and less than a year from Brexit. It’s encouraging therefore to see that most brokers are expecting to grow their businesses over the next 12 months despite continued uncertainty surrounding our future relationship with the EU and something of a change of mood in the residential property market. Like us, many brokers are seeing opportunities in the challenges.

“UTB has enjoyed a very successful first six months of the year and we continue to grow in several respects including lending volumes and headcount. Our outlook is positive too. We now have more BDMs and originators than ever, introducing a variety of UTB products and services to brokers and customers across England, Scotland and Wales. The investment we’ve made in expanding the Mortgage and Bridging sales teams last year, and more recently the Development Finance team, are paying dividends. Our Structured Finance division has also had a busy first half year providing fast, flexible and dependable funding solutions for more complex scenarios and we continue to invest in technology to help us maintain our award-winning service standards and increase our lending across the Bank.

“To underline our commitment to supporting brokers looking to grow this year, we have invested more capital in UTB which allows us to continue to provide stability, confidence and assurance to brokers that if they are looking to fund opportunities for their customers, our book is always open for good quality business.”