Three in five (60%) brokers in property finance, asset finance and professional loans said this year’s business will exceed expectations, with 14% rating it ‘excellent’.
Business was stronger than most brokers expected in 2016 according to a United Trust Bank poll.
Three in five (60%) brokers in property finance, asset finance and professional loans said this year’s business will exceed expectations, with 14% rating it ‘excellent’.
This year saw a slowdown in activity in the leadup to the EU referendum and a pause for breath after the shock ‘Leave’ result, while the election of the controversial Donald Trump as US President in November was the icing on the cake.
But if these results are anything to go by most brokers will have a Wonderful Christmas Time safe in the knowledge that they hit their targets.
Harley Kagan, group managing director of United Trust Bank, said: “2016 has been an extraordinary year in many respects.
“First there was the introduction of the MCD which had a considerable impact on the second charge mortgage market.
“I’m pleased to say we were open for business well ahead of the market. Then there was the uncertainty in the lead up to the EU referendum with scaremongering on both sides of the debate undoubtedly causing some individuals and businesses to hold fire before making significant investments.
“This was followed by the surprise victory for the ‘Leave’ campaign and the immediate impact it had on sterling. If anyone was looking for an excuse to post a poor set of figures in 2016 there would be several to choose from.
“However, UK brokers have shown their resilience by shrugging off the challenges thrown at them and a clear majority have either performed as well, or better than they expected to.”
No brokers saw 2016 as a ‘terrible’ year for business, just 8% felt business would fall short and 32% said their end of year results will be 'on plan'.
