Mortgage advisers are upbeat about their prospects following Brexit, with less than a fifth predicting it will have a negative impact on their business.
A survey of more than 700 UK mortgage advisers by Mortgage Brain has revealed that almost a third (30 per cent) predict that Brexit will have either a positive or very positive effect on their business.
In contrast, just 19 per cent think the decision for the UK to exit the EU will have a negative or very negative effect.
The results reveal a geographical divide in advisers’ attitudes to Brexit. In Newcastle, more than two-fifths (42 per cent) of respondents said Brexit will have a positive or very positive effect on their business, compared to just 18 per cent of mortgage advisers in Leeds.
Meanwhile, more than a quarter of advisers in south-west London (26 per cent) and a slightly higher number in Manchester (28 per cent) think Brexit will have a negative or very negative effect on their business.
Half of the respondents in Birmingham (51 per cent) and Wales (50 per cent) predict that Brexit will have no effect, rising to more than two-thirds (67 per cent) in Winchester and Hampshire.
Mortgage Brain chief executive Mark Lofthouse said, “It seems that the UK mortgage adviser sector’s views on Brexit vary around the country. There are no apparent signs of panic and the majority of advisers believe it will either be positive or will not affect their business.
“While the future is clearly uncertain, it’s good to see that - for the moment at least - advisors are simply getting on with the job of delivering professional advice.”
Tony Silver, director at London-based White House Mortgages, commented: “I can’t see any change whatsoever in London. I can’t see property prices going up or down because of Brexit - London is London, so prices will just go up. I have got more concerns over banks’ willingness to lend where they were lending six months to a year ago.”
simon.allin@ft.com
