Many mortgage brokers have a positive outlook post-Brexit

Around two in five mortgage intermediaries are ‘fairly’ confident about their business growth for the latter part of the year following the EU referendum, according to a Shawbrook Bank survey.

This confidence stems from a strong start to the year, with 64 per cent of the 224 brokers who participated in the study, reporting an increase in business volumes.

Meanwhile, more than two fifths (43 per cent) said they were dealing with growing client demand, compared with the second half of 2015.

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Karen Bennett, managing director, commercial mortgages, at the bank said: “With the implications of Brexit still unclear, it is understandable that brokers may feel a little nervous about the market. However, it is encouraging to see a positive outlook in the main – particularly where client demand is concerned –s and in spite of the challenges faced, there is still much in the way of opportunity.”

In addition, 30 per cent of brokers cited a fall in property prices as the biggest consequence following the referendum.

When it comes to the UK economy, 34 per cent of the sample said they were “fairly” confident in the UK economy, post referendum – despite fears regarding uncertainty in the markets.

Ms Bennett said: “From a Shawbrook perspective, we are confident that those brokers and investors with a long-term balanced strategy will continue to prosper as we move into a more settled environment, and we look forward to supporting them throughout the remainder of 2016.”

Adviser view

James Carter, principal at brokers Independent James, based in London, said: “I think there is a possibility of a post-Brexit bounce in the mortgage marketplace. We have already seen a rise in first-time buyer applicants because they think that they can secure better value properties at this moment in time.”