Over half of brokers remain optimistic about business growth throughout 2019, despite ongoing political uncertainty, according to Shawbrook Bank’s Broker Barometer.
Over a quarter of respondents have seen no change in business volumes in 2018, whilst 23% have seen a 10% rise from 2017.
The report revealed that the top three challenges that the commercial mortgage brokers surveyed expect their businesses to face in 2019 are the impact of Brexit (62%), valuation issues (55%) and Mortgage Interest Tax Relief (39%).
Emma Cox, sales director for commercial mortgages (pictured), said: “As outlined in Shawbrook’s latest BTL report, professionalisation of the industry seems to be underpinning activity and continues to present a great deal of opportunity.
“We see professional investors and landlords working closely with brokers to build a sustainable business plan designed to withstand uncertainty, and in our view the BTL space remains fundamentally robust.”
Jonathan Clark, mortgage partner at Chadney Bulgin, said that he is not surprised that brokers are generally positive about the outlook for 2019.
He added: “I share their optimism. We’re a resilient bunch and able to adapt much more quickly to changing economic conditions than the direct channels.”