Just under a third of brokers think further property price falls will be the biggest post-referendum consequence and almost a quarter, or 23% expressed fears over a fall in investor demand, according to Shawbrook data.

The overall levels of broker confidence rest on a strong start to the year, with 64% of brokers seeing an increase in business volumes and 43% dealing with growing client demand, compared with the second half of 2015.

On top of this, over a third (34%) of brokers are fairly confident about the UK economy post-referendum, despite fears regarding uncertainty in the markets. Although the number of brokers feeling confident is nearly identical to those who are concerned, the trend has shifted post-Brexit with a larger proportion of brokers now more cautious than they were previously.

Karen Bennett, managing director, commercial mortgages, said: “With the implications of Brexit still unclear, it is understandable that brokers may feel a little nervous about the market. However it is encouraging to see a positive outlook in the main – particularly where client demand is concerned – and in spite of the challenges faced there is still much in the way of opportunity.”

On 1 August, the Institute of Chartered Accountants in England and Wales (ICAEW) also reported ‘resilient’ business sentiment after the Brexit vote despite the political shock.

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