New research from United Trust Bank has revealed that 50 per cent of brokers expect to have placed more business in 2012 than they did in 2011 whilst 31 per cent expect levels to remain about the same.
- 56% of brokers placed up to £1m of asset finance loans in 2011
- 34% placed loans totaling between £1m and £5m
- Just under 10 per cent placed business worth £5m or more.
- 50% of brokers expect to place more in 2012 than in 2011
- 31% are expecting levels to remain about the same
When asked for their views on the next 12 months, 63 percent of brokers expected volumes of asset finance business to increase in 2013 with 28 per cent expecting business levels to remain level.
44 per cent of brokers described the outlook for their own businesses as ‘Optimistic’ with 28 per cent being ‘comfortable’ and a further 28 per cent ‘unsure’.
Martin Nixon, Head of Asset Finance at United Trust Bank said;
“It’s encouraging to hear that half of brokers are expecting to have written more business this year than last year and even more are predicting an increase in 2013 as well. This certainly reflects our experience at United Trust Bank (UTB) as we have seen increasing levels of business proposals from our broker partners, with applications for a wide variety of uses within our chosen sectors and business volumes continuing to grow. Lenders such as UTB have stepped in to fill the void left by traditional lenders and brokers are using asset finance creatively to help companies of all sizes to raise capital to invest in growing their businesses. The challenging economic climate can provide opportunities for businesses which can sometimes only be seized upon if a lender is willing to be creative and offer flexible funding solutions. UTB is just such a lender and we will continue to support brokers by offering a bespoke service, with every proposal being individually assessed by an underwriter.”