Shawbrook
, the specialist UK savings, development finance, bridging finance bank, has recently revealed broker confidence in business growth and the post COVID-19 lending environment following their latest Broker Barometer.
Nearly two thirds of commercial brokers (63%) and second charge brokers (66%) revealed that they are optimistic about the lending environment following the UK’s ease of lockdown restrictions.
When commenting on their businesses, more than two in five commercial brokers (42%) and second charge brokers (45%) added that they were confident about the growth of their businesses in the post-lockdown environment.
Shawbrook also revealed that brokers expressed some concern about lending restrictions, valuation issues, and lead generation challenges in the current climate.
It was reported that 45 per cent of commercial brokers believe that investors and landlords will be aiming to increase their portfolio in response to the pandemic; dropping to 34 per cent with second charge brokers.
When asked about business volumes, a quarter of respondents stated that they had seen business volumes increase or remain stagnant when compared to pre-coronavirus levels.
Emma Cox, sales director of property finance at Shawbrook Bank, said: “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 is positive to see that many brokers are optimistic when it comes to business growth and the lending environment.
“Of course, we understand that the current landscape presents a number of challenges, and some brokers will be feeling that more than others.
“This means that as we look ahead, and as we move further out of lockdown, it is more important than ever that lenders continue to work closely with the broker community to help navigate the inevitable challenges of the next six months.”
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