Commercial Finance
Choppy water ahead for property market, says NACFB
The National Association of Commercial Finance Brokers (NACFB) has predicted ‘choppy waters’ in the property market in the short-term, following the decision that Britain will leave the EU.
Chairman Paul Goodman said the UK is facing “a period of considerable uncertainty,” in the wake of the Brexit vote but said that the challenge is to deal with what’s ahead.
“Nobody knows how the result of the EU Referendum will play out, and its ultimate impact on the economy, but choppy waters in the short-term are almost guaranteed,” said Goodman.
“What we shouldn’t forget is that the economy is robust and employment levels high.
Managed correctly, the result of the referendum does not have to trigger a replay of the Global Financial Crisis.”
He said that business owners should not panic but be vigilant and seek financial advice.
Episode 1: First-time buyers : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
“Lending to UK SMEs in 2016 to date has been strong. The challenge now, for us and other bodies like us, is to ensure SMEs continue to receive the funding and support they need in uncertain times,” said Goodman.