A recent broker survey carried out by United Trust Bank has found that nearly half (44%) of the respondents had so far found 2013 to be ‘busier than they’d hoped for’. A further 37 per cent said business levels were about as they had expected them to be.
The majority of broker respondents, who operate in the bridging, development finance and asset finance sectors, were also upbeat about their prospects for the rest of the year with three quarters (75%) expecting business levels to increase and two thirds (66%) suggesting that they were planning to expand their businesses in 2013.
Just over a third (36%) of those completing the survey believed that there would be an easing of credit availability this year with an overwhelming 86 per cent expecting the base interest rate to remain unchanged for the remainder of 2013.
Harley Kagan, Managing Director of United Trust Bank said;
“The findings of the survey reflect our own experience as we’re also seeing increased activity across all three of the short to medium term finance sectors served by the Bank. Our development finance lending is almost certainly going to exceed our 2012 total by the midway point of 2013 and our bridging and asset finance departments have seen marked increases in the number of proposals received as well as an increase in the size of the facilities being sought.
“There is a growing positivity amongst brokers and a sense that credit availability may at last be starting to ease. Brokers working with lenders such as United Trust Bank often supported developers, SMEs and individuals when they had been turned away by their own High Street banks, despite them being longstanding customers with previously excellent credit histories. Now that they’ve experienced the superior, bespoke service offered by brokers and smaller specialist lenders, the High Street banks may find it hard to win those customers back.”