Most mortgage brokers maintain a positive outlook for growth despite current market challenges.
- A survey by Investec Bank plc reveals 81% of brokers are optimistic about business growth in the coming year.
- Key concerns include economic volatility, new regulations, and securing repeat business.
- High-net-worth clients’ diverse income sources are a primary focus amid financial uncertainties.
- The need for faster financing and sufficient loan-to-value ratios are among the top priorities.
A recent survey conducted by Investec Bank plc indicates that a significant majority of mortgage brokers are optimistic about business growth over the next twelve months. Despite ongoing market concerns, 81% of brokers believe their businesses will expand in the coming year.
However, this optimism is tempered by a number of challenges highlighted by the brokers. Among the top concerns are macro-economic volatility, regulatory changes, and the difficulty in securing repeat business. These elements are affecting brokers’ operational strategies as they navigate an unpredictable market.
During discussions at a recent event, the evolving expectations of high-net-worth clients were a key topic. Brokers expressed concerns over their clients’ ability to incorporate diverse income sources into affordability assessments, given the current economic landscape. Speedy access to financing also emerged as a significant priority, alongside obtaining adequate loan-to-value ratios.
Peter Izard, head of intermediary business development at Investec, remarked that the strong growth expectations among brokers indicate a resilient market. He affirmed Investec’s commitment to supporting its clients with exceptional service throughout the investment cycle. Izard noted that recent economic updates, such as the Autumn Statement, have introduced some certainty, aiding brokers in future planning.
While brokers seem less occupied with everyday operational challenges, this could suggest a strategic shift. They are now looking beyond survival, focusing more on growth-oriented strategies, even as they remain wary of economic fluctuations and potential regulatory changes.
Ultimately, mortgage brokers remain optimistic about growth, despite facing significant market challenges.
