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June 26, 2018

Majority of brokers expect growth in business over next 12 months

A United Trust Bank (UTB) survey of 120 finance brokers in April 2018 shows that 62% expect their business to grow over the next 12 months.

By Christopher Marchant

A United Trust Bank (UTB) survey of 120 finance brokers in April 2018 shows that 62% expect their business to grow over the next 12 months.

UTB’s broker sentiment poll asked brokers operating in the bridging, development, structured and asset finance sectors about their business confidence. The latest results appear to indicate that broker confidence has increased slightly since the start of 2018.

In a similar UTB broker poll carried out in December 2017, 56% of brokers predicted that 2018 would be a good year for their businesses and a further 35% expected it to be ‘steady’. The remaining 9% thought 2018 could be a difficult year for them.

United Trust Bank was incorporated in 1955, and is headquartered in London. Harley Kagan, group managing director of UTB, said:

“It’s encouraging therefore to see that most brokers are expecting to grow their businesses over the next 12 months despite continued uncertainty surrounding our future relationship with the EU and something of a change of mood in the residential property market.

“To underline United Trust Bank’s commitment to supporting brokers looking to grow this year, we have invested more capital which allows us to continue to provide stability, confidence and assurance to brokers that if they are looking to fund opportunities for their customers, our book is always open for good quality business.”

In February UTB chair Richard Murley said increasing competition in leasing took its toll on profit margins in 2017.

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