81% of brokers polled at Investec’s ‘Decoding Labour’s growth agenda’ event on Thursday 18th October reported that they felt their business would likely grow over the next year, indicating strong market optimism.
Only 4% expected a decline, while 16% anticipated stability, suggesting a favourable outlook for investments and expansion.
Participants ranked macro-economic volatility as their top concern, reflecting fears that wider economic fluctuations could impact their operations.
The potential effect of regulation and incoming legislation followed closely, highlighting worries about compliance costs and changing market rules.
For high-net-worth (HNW) clients, the main concern according to brokers was securing funding based on a diverse range of assets rather than just income.
This indicated a growing desire for flexible financing options among affluent individuals, whose income might not fit a high street lender’s criteria, for example.
Speed of financing and securing a higher loan-to-value ratio (LTV) were also significant concerns.
The event brought together prominent mortgage brokers to discuss the changing needs of HNW clients in the current financial landscape, and take a look at the first 100 days of the Labour Government.
Brokers emphasised the necessity for flexibility in financing, with many clients seeking mortgage solutions that encompass their complete wealth profile, including investments, properties, and other assets.
Peter Izard (pictured), head of intermediary business development at Investec Bank, said: “The insights shared by brokers at this event are invaluable.
“High-net-worth individuals often have intricate financial situations that necessitate tailored solutions and out of the ordinary service.
“We recognise that traditional income-based assessments may not encapsulate the full spectrum of a client’s financial standing.
“Our commitment is to provide bespoke mortgage offerings that reflect the diverse asset bases of our clients.”
Izard added: “Brokers play a pivotal role in navigating the complexities of high-net-worth lending.
“Our aim is to empower them with the tools and products necessary to meet their clients’ needs effectively.
“By focusing on a broader range of assets, we can facilitate more accurate assessments and ultimately help clients secure the funding they require.”
