Lending restrictions and valuations are main broker concerns post-Covid crisis

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  • 28/07/2020
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Lending restrictions and valuations are main broker concerns post-Covid crisis
Brokers are most worried about lending restrictions, valuation issues and lead generation as the property market comes out of lockdown.

 

However, sentiment around the current lending environment is generally high, according to a survey by Shawbrook.

Nearly two thirds of commercial and second charge brokers were feeling confident as coronavirus restrictions ease, it found.

A quarter of second charge brokers said they had seen business volumes go up or stay the same when comparing to pre-pandemic levels, and 17 per cent of commercial brokers said the same.

Almost half of commercial brokers and around a third of second charge brokers expect investors and landlords will be increasing their portfolio in response to the pandemic.

Emma Cox, sales director of property finance at Shawbrook Bank (pictured), said: “It’s difficult to predict the outlook for the property market as we emerge from Covid-19, there are so many variables.

“However, in spite of future uncertainty, it is positive to see that many brokers are optimistic when it comes to business growth and the lending environment.

“Of course, we understand the current landscape presents a number of challenges, and some brokers will be feeling that more than others.

“This means that as we look ahead, and as we move further out of lockdown, it is more important than ever that lenders continue to work closely with the broker community to help navigate the inevitable challenges of the next six months.”

 

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