Six out of ten of United Trust Bank’s brokers consider the stability of a funder when placing business.
Its recent broker sentiment poll asked brokers operating in the property finance and asset finance sectors if the stability and reliability of the lender was a factor when placing new business.
Nearly two thirds (60%) of the 146 respondents indicated that it was, 36% said ‘No’ and 4% didn’t know.
Harley Kagan, group managing director – United Trust Bank, said: “In uncertain times it’s natural that brokers and intermediaries want complete confidence that the lenders they recommend to their clients are going to deliver the funds and the service they’ve promised.
“Many brokers know from past experience that in challenging markets some lenders may try to change their credit decisions whilst others have difficulty delivering a prompt service or releasing funds on schedule. It only takes one or two examples of a lender changing a deal for that to knock a broker’s confidence in the lender and the customer’s confidence in the broker.”