Eighty-one per cent of property and commercial finance brokers believe they are prepared for a second wave of COVID-19, new research from United Trust Bank (UTB) has revealed.

UTB’s most recent Broker Sentiment Survey, carried out amongst 136 brokers, also revealed that nearly a third (32%) of respondents are currently busier than they were this time last year.

Another 27% said they were as busy as this time last year while 17% reported they were busier than they had ever been. The remaining 24% reported lower levels of enquiries.
 
When asked about their arrangements for flexible working, 46% of the survey’s respondents are considering maintaining their current home and remote working arrangements over the next 12 months, with a further 18% considering increasing their working from home capability.
 
UTB found that 21% of brokers had indicated they would be keeping their options open while just 15% said that they would be aiming to bring all their staff back to the office, as per pre-pandemic arrangements.

UTB group managing director, Harley Kagan, commented: “The government has indicated that a second wave of coronavirus is building, local lockdowns are already in place around the UK and further restrictions appear inevitable.

“It’s therefore encouraging to see that most brokers consider themselves prepared to deal with the challenges a second wave may bring. With so many also reporting good levels of business, there’s a strong sense within the specialist finance industry that whatever happens, many lenders and brokers have the technology and processes in place to maintain their operations.”

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