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Thursday, July 27, 2017

Harley Kagan United Trust Bank
Opinion > UTB

The upside to uncertainty

Harley Kagan – group managing director of United Trust Bank | 7:10 Friday 14th July 2017

The election on June 8th was intended to provide a stronger hand for the government to push through policy at home and provide a solid basis for Brexit negotiations.

It instead resulted in one of the biggest upsets in recent political history.

We thought we had uncertainty before, well the floodgates of uncertainty have been well and truly opened.

Be fearful when others are greedy and greedy only when others are fearful.

This investment mantra has served Warren Buffet well over the past 50 years and it’s an attitude many individuals and businesses will adopt in the face of current events.

Uncertainty breeds fear, but it can also bring opportunities. Let’s be clear: we’re not about to throw caution to the wind at the prospect of ongoing political turmoil.

However, United Trust Bank has been an outstanding lender in both benign and difficult markets. We’ve been a reliable and reassuring constant for brokers and borrowers in fair and stormy weather.

When other lenders disappeared during the credit crisis, we stepped up and increased our lending and we have done so every year since.

This growth has accelerated in the last three years.

Having moved to bigger offices just two years ago to accommodate our expanding operation, we have taken more space on another floor in CityPoint, providing us with additional desk space, meeting rooms and training facilities.

We now have a team of six BDMs introducing our bridging and mortgage products to more brokers across the UK than we ever have done before.

We have four asset finance sales people covering from the South of England all the way up to Scotland and our eight property development directors and managers in our development finance division are dealing with brokers and developers from Cornwall to the North West.

Including our structured finance team, we have over 20 people taking UTB’s products and services to brokers and customers all over the country.

To support our growth ambitions, we are developing new products, exploring new markets, investing in new technology and always fine-tuning our internal processes to make an already outstanding service even better.

We’re still hiring experienced and customer-focused staff who will help our brokers and customers to achieve their goals.

It’s only by enabling SMEs, professionals, developers and individuals to realise their ambitions that we will also achieve ours.

Some of the greatest opportunities present themselves in times of uncertainty.

And although we may not wish to be greedy while others are fearful, we certainly intend to maintain a very healthy appetite.

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