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Majority of brokers predict growth in short-term loans
According to new research, the vast majority of brokers located in the UK believe that short-term lending will grow over the course of 2012.
The survey, carried out by residential specialist Precise Mortgages revealed that 82 per cent of brokers believed the short-term sector would expand next year.
Despite the on-going challenges associated with funding, most brokers and other finance professional remained upbeat about the future of the sector.
The most positive areas for growth were found to be London and Edinburgh, with 85 per cent and 90 per cent of brokers respectively predicting growth.
Meanwhile, 82 per cent of brokers believed that the growth in short-term loans would be driven in part by continued reluctance of the high street banks to lend and the restrictions on finance as a result.
Fifty-seven per cent of brokers also believed that there would be growth in the private rental sector, according to Bridging and Commercial.
The most optimistic area for predicted growth was Edinburgh, with 79 per cent predicting growth in the Scottish city. A further 56 per cent believed that the growth would be substantial enough to cause more brokers to begin to operate in the sector.
