Brexit – 92% of brokers wouldn’t change vote

Nine out of 10 brokers would vote the same way on Brexit, according to research by United Trust Bank (UTB).

The lender’s broker survey found 92% would not have changed their mind despite the benefit of hindsight, while 2% indicated they would have switched from leave to remain while the same percentage would switch to remain meanwhile 4% either didn’t or couldn’t vote.

UTB’s survey also revealed that the majority of brokers were not expecting Theresa May to trigger Article 50 of the Lisbon Treaty this year, with 47% predicting it would not take place until the first half of 2017.

Harley Kagan, managing director of UTB, said despite all the fallout since the EU referendum, the vast majority of brokers would not change their mind, indicating that they were prepared to accept the short-term economic consequences.

“At UTB, there’s a sense of cautious optimism about the opportunities the next few years might bring.

“There’s certainly no shortage of new inquiries for funding across all divisions of the bank and it serves as a reminder that much of our everyday lives will go on as before, largely unaffected.

“We will still need to buy groceries.

“We will still need to travel, we will still need somewhere to live and we will still want to improve our homes and drive new cars.”

Harley continued by adding that many businesses would still want to keep growing whatever the outcome was.

“Whether we’re part of the EU or not, many of them will want to keep growing and will require financial support to do so.

“These businesses will rely on lenders like United Trust Bank to help them achieve their goals and brokers to guide them to the most suitable solutions.

“We stood by our customers throughout the credit crunch and we will continue to support customers throughout the Brexit.”

UTB surveyed 300 brokers working in the fields of asset, bridging and development finance.

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