Shawbrook’s most recent Broker Barometer has revealed that as the UK emerges from the coronavirus pandemic, broker confidence in business growth and in the lending environment remains high. Nearly two thirds of commercial brokers (63%) and second charge brokers (66%) stated that they are confident about the lending environment as coronavirus restrictions ease. Similarly, when asked about their businesses, over two in five commercial brokers (42%) and second charge brokers (45%) said they were confident about business growth postpandemic.
When it came to consider any perceived challenges as we move through the Covid-19 crisis, the brokers surveyed expressed concern around lending restrictions, valuation issues, and lead generation, although as these restrictions begin to ease and the stamp duty changes take effect, there could well be more opportunity for brokers that support the professional investor community.
Emma Cox, Sales Director of Property Finance at Shawbrook Bank comments:
“It’s difficult to predict the outlook for the property market as we emerge from Covid, there are so many variables. However, in spite of future uncertainty, it’s positive to see that many brokers are broadly optimistic when it comes to business growth and the lending environment. We know that the current landscape still presents a number of challenges and its impact will vary from broker to broker. However, the recent announcement of the stamp duty holiday could well trigger a wave of activity from investors who have been largely dormant in light of not just the most recent challenges, but the preceding regulatory and political uncertainty. This uptick will clearly present opportunity for brokers, and it is incumbent upon us as lenders to ensure that we maintain a close dialogue with our partners, investing in both our technological infrastructure and our people to facilitate a successful finish to a difficult year.”