New research carried out amongst brokers by United Trust Bank has revealed that over a third (36%) have found that their business performance in 2012 has exceeded expectations.
A further 43 per cent of brokers confirmed their businesses were performing as well as expected.
However, nearly 1 in 5 brokers (19%) described 2012 as ‘a struggle’ and 2 per cent described it as ‘a disaster’.
Given that the majority of the broker’s businesses are performing at or above expectation it is perhaps unsurprising that when asked for opinions on outgoing Bank of England Governor Sir Mervyn King, 63 per cent of brokers felt that he had performed his duties well whilst 21 per cent disagreed. 16 per cent were undecided.
Commenting on the research findings Harley Kagan, Managing Director of United Trust Bank, said;
“It’s encouraging to see that despite the sluggish performance of the UK economy the majority of brokers have enjoyed a reasonably successful year. From experience we’ve seen many brokers seizing the opportunity to offer their services to the many customers who’ve found that borrowing from their high street bank is nowhere near as easy as it used to be. Across bridging, development finance and asset finance brokers are providing a vital service to individuals and companies in need of short term financing solutions.”