You are here: Home - Specialist Lending - Bridging -

Brokers more positive about UK economy than customers – survey

by:
  • 05/12/2017
  • 0
Brokers more positive about UK economy than customers – survey
Mortgage brokers are more positive than their clients about prospects for the UK economy, but only just – and neither group is enthusiastic.

According to surveys conducted by United Trust Bank, 36% of brokers said the majority of their customers had a negative view of the UK’s economic outlook for the next three years.

Just 20% believed most of their customers took a positive view while 40% said their customers were neutral.

In contrast, 35% of property and asset finance brokers felt positive about the next three years, 35% neutral and 30% negative.

 

Negative feelings

The poll was conducted in October and showed signs of more negative feelings coming through since the survey  immediately following the Brexit vote.

That found 56% of respondents were positive about the UK’s future outside of the EU.

“With just over one third (35%) of brokers now taking a positive view of the economic outlook to 2021, it appears that sentiment towards the split has become more negative,” United Trust Bank said.

It added that many business people were looking for certainty when making important decisions and not much of that was being seen as the country moved towards Brexit.

United Trust Bank group managing director, Harley Kagan said: “This lack of a cohesive view of how the UK will operate in just 18 months time coupled with almost daily reports of political infighting among those in charge of the process is bound to be detrimental to business confidence.

“In addition, companies may be devoting huge amounts of money and resource to working out just how they will continue to operate post Brexit.

“That resource may, in normal circumstances, have been employed in driving growth and investment, something which may have been moved to the back burner for the time being,” he added.

There are 0 Comment(s)

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
Cluster of arrows with one large red one
BTL deal maturities to soar to £13bn in H1 2018 boom – exclusive

Brokers are being told to prepare for a surge in buy-to-let (BTL) mortgage maturities in the first half of 2018.

Close