Majority of brokers believe no-deal Brexit is possible

Michael Lloyd

September 24, 2019

The majority (70%) of finance brokers believe a no-deal Brexit is on the cards, United Trust Bank’s Sentiment Poll has revealed.

Just 23% of brokers believe that leaving the EU with a deal is still possible but most of those feel that the deal will be the same or similar to the one Theresa May failed to get voted through Parliament.

Harley Kagan, group managing director at United Trust Bank, said: “Most of us have become accustomed to the near permanent state of uncertainty surrounding Brexit and the outlook for the UK economy.

“At UTB we’re continuing to see strong levels of new business across property and asset lending and we continue to invest in people and new technology, forging our own path through the confusion.

“We have ambitious plans for the bank and have exciting new products, service enhancements and appointments to be announced over the coming months.

“We will of course be keeping a very close watch on what happens in the lead up to October 31, and we have plans and contingencies in place for all eventualities, but whatever the outcome, we will continue to provide the funding for UK housebuilders, property developers, SMEs and homeowners to seize opportunities, invest in their businesses and improve their homes and lives.”

In the survey, half of brokers reportedly would not have voted for Boris Johnson to be Prime Minister.

Broker views on the UK’s economic outlook for the next three years under Johnson’s leadership was also divided with 40% indicating a negative outlook against 38% with a positive view.

Sign up to our daily email