Over three quarters of brokers working in the bridging sector, who responded to a recent survey conduced by United Trust Bank (UTB), expect to complete more bridging business in 2015 than last year.
This is the fourth year in a row that the sentiment amongst the majority of brokers measured by United Trust Bank’s broker survey has been positive about their full year performance.
In 2012 and 2013, 79% of brokers rated their full year performance as meeting or exceeding expectations. In 2014 the figure was 77% and now an overwhelming 98% of brokers expect their 2015 business levels to meet or exceed last year’s figures.
Alan Margolis (pictured), head of bridging at United Trust Bank, said: “The positivity shown by brokers responding to this and previous surveys very much reflects our own experience of the growth of United Trust Bank’s bridging business over the last few years and that of the sector as a whole. However, I also believe there’s still considerable potential for further growth.
“At UTB we continue to build the widest possible distribution for our bridging loans. We work with mortgage brokers who are bridging loan specialists or have an intimate knowledge of the sector, as well as those who have never completed a bridging loan.
“However, I believe that we only deal with a modest proportion of the 15,000 or so mortgage brokers, IFAs and tied advisers who, during their interactions with clients, may find themselves in the right circumstances to suggest to their clients that they consider a bridging loan. The fact that most advisers don’t generally consider bridging loans remains our greatest challenge moving forward and the continued growth of the bridging sector depends on greater numbers of intermediaries being more confident to add bridging loans to their everyday advice toolkits.”